Shares of Everspin Tech (NASDAQ:MRAM) have been assigned an average broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four research analysts have rated the stock with a strong buy recommendation.
Brokers have set a one year consensus price target of $13.75 for the company and are expecting that the company will post ($0.38) EPS for the current quarter, according to Zacks. Zacks has also assigned Everspin Tech an industry rank of 84 out of 265 based on the ratings given to its competitors.
A number of research firms recently issued reports on MRAM. Needham & Company LLC reissued a “buy” rating and set a $12.00 price target on shares of Everspin Tech in a report on Monday. Stifel Nicolaus raised their price target on Everspin Tech from $11.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, June 5th. Zacks Investment Research raised Everspin Tech from a “sell” rating to a “hold” rating in a report on Friday, March 31st. Finally, Canaccord Genuity reissued a “buy” rating and set a $12.00 price target on shares of Everspin Tech in a report on Monday, March 13th.
Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new position in Everspin Tech during the first quarter worth about $126,000. Dialectic Capital Management LP bought a new position in Everspin Tech during the first quarter worth about $182,000. Vanguard Group Inc. bought a new position in Everspin Tech during the first quarter worth about $334,000. Mesirow Financial Investment Management Equity Management bought a new position in Everspin Tech during the first quarter worth about $417,000. Finally, Herald Investment Management Ltd bought a new position in Everspin Tech during the first quarter worth about $1,223,000. 34.70% of the stock is currently owned by hedge funds and other institutional investors.
Everspin Tech (NASDAQ MRAM) traded up 7.92% during mid-day trading on Friday, reaching $18.81. The company’s stock had a trading volume of 415,800 shares. The firm’s market cap is $235.29 million. Everspin Tech has a one year low of $6.15 and a one year high of $21.44. The stock’s 50 day moving average is $13.10 and its 200 day moving average is $9.47.
Everspin Tech (NASDAQ:MRAM) last issued its quarterly earnings data on Friday, May 12th. The business services provider reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.02. The firm had revenue of $7.88 million for the quarter, compared to analysts’ expectations of $7.40 million. On average, analysts anticipate that Everspin Tech will post ($1.35) EPS for the current year.
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Everspin Tech Company Profile
Everspin Technologies, Inc is a United States-based provider of magnetoresistive random-access memory (MRAM) solutions. The Company is engaged in designing, manufacturing and shipping discrete and embedded MRAM and spin-torque MRAM (ST-MRAM) into markets and applications. The Company’s products include 8-bit/16-bit Parallel Interface MRAM, Serial Peripheral Interface (SPI), Quad SPI and Double Data Rate (DDR) 3 dynamic random-access memory (DRAM) Compatible MRAM – Spin Torque Technology.
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