Everspin Technologies (NASDAQ:MRAM) Stock Rating Lowered by Zacks Investment Research
According to Zacks, “Everspin Technologies, Inc. is involved in designing, manufacturing and commercially shipping discrete and embedded Magnetoresistive RAM and Spin-Torque MRAM. It serves data center, cloud storage, energy, industrial, automotive and transportation markets. Everspin Technologies, Inc. is headquartered in Chandler, Arizona. “
Separately, Needham & Company LLC reissued a buy rating and set a $5.00 price objective on shares of SCYNEXIS in a report on Sunday, May 12th.
Everspin Technologies (NASDAQ:MRAM) last released its quarterly earnings data on Wednesday, May 8th. The business services provider reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01. The firm had revenue of $10.03 million for the quarter, compared to the consensus estimate of $9.70 million. Everspin Technologies had a negative net margin of 44.80% and a negative return on equity of 76.21%. On average, equities analysts predict that Everspin Technologies will post -1.06 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raging Capital Management LLC raised its position in Everspin Technologies by 91.7% during the fourth quarter. Raging Capital Management LLC now owns 1,485,433 shares of the business services provider’s stock worth $8,333,000 after acquiring an additional 710,433 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Everspin Technologies during the fourth quarter worth about $80,000. Bank of New York Mellon Corp acquired a new position in Everspin Technologies during the fourth quarter worth about $80,000. Finally, BlackRock Inc. raised its position in Everspin Technologies by 6.5% during the fourth quarter. BlackRock Inc. now owns 195,709 shares of the business services provider’s stock worth $1,097,000 after acquiring an additional 11,959 shares during the last quarter. Institutional investors own 40.06% of the company’s stock.
Everspin Technologies Company Profile
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States, Japan, China, Germany, Singapore, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and embedded MRAM products, as well as magnetic sensors and aerospace and satellite electronic systems.
Read More: What are Closed-End Mutual Funds?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Everspin Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everspin Technologies and related companies with MarketBeat.com's FREE daily email newsletter.