Everspin Technologies (NASDAQ:MRAM) announced its quarterly earnings data on Thursday. The business services provider reported ($0.20) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.03, Briefing.com reports. The company had revenue of $12.30 million for the quarter, compared to analysts’ expectations of $12.00 million. Everspin Technologies had a negative net margin of 37.90% and a negative return on equity of 67.47%. The business’s revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.35) EPS. Everspin Technologies updated its Q1 2019 guidance to $-0.28–0.24 EPS and its Q1 guidance to (-0.28)-(-0.24) EPS.
Shares of MRAM traded up $0.13 during midday trading on Friday, hitting $8.52. The stock had a trading volume of 4,516 shares, compared to its average volume of 75,942. Everspin Technologies has a fifty-two week low of $5.30 and a fifty-two week high of $11.20. The stock has a market cap of $143.42 million, a price-to-earnings ratio of -5.03 and a beta of 2.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.95 and a quick ratio of 2.36.
Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Everspin Technologies during the fourth quarter worth approximately $61,000. Bank of New York Mellon Corp acquired a new stake in shares of Everspin Technologies during the fourth quarter worth approximately $80,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Everspin Technologies during the fourth quarter worth approximately $80,000. Salem Investment Counselors Inc. acquired a new stake in shares of Everspin Technologies during the third quarter worth approximately $147,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Everspin Technologies during the third quarter worth approximately $149,000. Institutional investors own 40.62% of the company’s stock.
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About Everspin Technologies
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.
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