Needham & Company LLC Reaffirms “Buy” Rating for Everspin Technologies (NASDAQ:MRAM)

Needham & Company LLC restated their buy rating on shares of Everspin Technologies (NASDAQ:MRAM) in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a $8.00 price objective on the business services provider’s stock.

Separately, StockNews.com cut shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th.

Everspin Technologies Trading Down 5.0 %

Shares of MRAM opened at $5.87 on Thursday. Everspin Technologies has a 12-month low of $4.89 and a 12-month high of $9.69. The company has a market cap of $127.61 million, a PE ratio of 97.83 and a beta of 0.90. The stock has a 50-day moving average price of $5.86 and a 200-day moving average price of $6.06.

Insider Buying and Selling at Everspin Technologies

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $5.54, for a total transaction of $97,077.42. Following the completion of the transaction, the chief executive officer now owns 440,215 shares in the company, valued at $2,438,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 25,347 shares of company stock worth $139,635. 6.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Eastern Bank bought a new position in shares of Everspin Technologies during the third quarter valued at $50,000. Mackenzie Financial Corp purchased a new position in Everspin Technologies in the second quarter worth about $70,000. Rhumbline Advisers bought a new stake in Everspin Technologies during the second quarter valued at approximately $129,000. Oppenheimer & Close LLC bought a new stake in shares of Everspin Technologies during the 1st quarter valued at $491,000. Finally, Total Clarity Wealth Management Inc. grew its stake in shares of Everspin Technologies by 11.3% during the 2nd quarter. Total Clarity Wealth Management Inc. now owns 86,359 shares of the business services provider’s stock valued at $517,000 after acquiring an additional 8,767 shares during the period. Institutional investors own 44.68% of the company’s stock.

About Everspin Technologies

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.