Everspin Technologies, Inc. (NASDAQ:MRAM – Get Rating) saw a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 384,600 shares, a decline of 39.3% from the April 15th total of 633,800 shares. Based on an average daily volume of 187,400 shares, the short-interest ratio is currently 2.1 days. Currently, 2.4% of the shares of the stock are short sold.
Several equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Everspin Technologies from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Needham & Company LLC boosted their target price on shares of Everspin Technologies from $12.00 to $13.00 and gave the company a “strong-buy” rating in a research note on Thursday, March 3rd.
NASDAQ: MRAM traded up $0.19 during mid-day trading on Friday, reaching $5.96. The company’s stock had a trading volume of 176,351 shares, compared to its average volume of 159,634. Everspin Technologies has a 1 year low of $5.00 and a 1 year high of $14.36. The stock has a fifty day moving average of $7.89 and a 200-day moving average of $9.31. The firm has a market capitalization of $118.90 million, a PE ratio of 18.06 and a beta of 1.26. The company has a quick ratio of 2.94, a current ratio of 3.56 and a debt-to-equity ratio of 0.06.
Everspin Technologies (NASDAQ:MRAM – Get Rating) last released its quarterly earnings data on Wednesday, March 2nd. The business services provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.14. The company had revenue of $18.22 million during the quarter. Everspin Technologies had a net margin of 11.38% and a return on equity of 29.78%. During the same period last year, the company earned ($0.08) earnings per share.
Hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley increased its holdings in shares of Everspin Technologies by 98.6% during the first quarter. Morgan Stanley now owns 40,811 shares of the business services provider’s stock valued at $245,000 after acquiring an additional 20,262 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Everspin Technologies during the second quarter valued at about $80,000. Barclays PLC increased its holdings in shares of Everspin Technologies by 246.2% during the third quarter. Barclays PLC now owns 5,217 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 3,710 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Everspin Technologies by 6.1% during the third quarter. Geode Capital Management LLC now owns 110,854 shares of the business services provider’s stock valued at $718,000 after acquiring an additional 6,398 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Everspin Technologies during the third quarter valued at about $101,000. 54.57% of the stock is owned by institutional investors and hedge funds.
Everspin Technologies Company Profile (Get Rating)
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products in the United States, Hong Kong, Japan, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for embedded MRAM.
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