Wall Street Zen Downgrades Everspin Tech (NASDAQ:MRAM) to Hold

Everspin Tech (NASDAQ:MRAM) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other analysts also recently issued research reports about the company. Weiss Ratings restated a “sell (d+)” rating on shares of Everspin Tech in a research note on Monday, December 29th. Needham & Company LLC boosted their price target on Everspin Tech from $8.00 to $10.50 and gave the company a “buy” rating in a report on Monday, November 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Everspin Tech presently has a consensus rating of “Hold” and a consensus target price of $10.50.

Everspin Tech Trading Down 8.2%

Shares of NASDAQ MRAM opened at $14.15 on Friday. The company has a 50 day simple moving average of $9.95 and a two-hundred day simple moving average of $8.71. The stock has a market cap of $323.47 million, a price-to-earnings ratio of -471.67 and a beta of 0.80. Everspin Tech has a 12 month low of $4.34 and a 12 month high of $17.24.

Everspin Tech (NASDAQ:MRAM) last issued its earnings results on Wednesday, November 5th. The business services provider reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.01. Everspin Tech had a negative net margin of 1.06% and a negative return on equity of 0.89%. The firm had revenue of $14.06 million during the quarter, compared to analysts’ expectations of $14.00 million. Everspin Tech has set its Q4 2025 guidance at 0.080-0.130 EPS.

Insider Buying and Selling

In other news, Director Darin G. Billerbeck sold 12,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $9.42, for a total transaction of $113,040.00. Following the transaction, the director owned 124,073 shares in the company, valued at $1,168,767.66. This trade represents a 8.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO William Earl Cooper sold 6,807 shares of Everspin Tech stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $12.06, for a total transaction of $82,092.42. Following the completion of the sale, the chief financial officer directly owned 93,193 shares in the company, valued at $1,123,907.58. This represents a 6.81% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Everspin Tech

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ritholtz Wealth Management acquired a new stake in shares of Everspin Tech in the fourth quarter valued at about $286,000. Green Alpha Advisors LLC purchased a new position in Everspin Tech in the 4th quarter valued at about $427,000. Bank of America Corp DE lifted its stake in Everspin Tech by 110.8% in the 3rd quarter. Bank of America Corp DE now owns 57,222 shares of the business services provider’s stock valued at $533,000 after buying an additional 30,072 shares in the last quarter. Algert Global LLC acquired a new stake in Everspin Tech in the 3rd quarter worth about $102,000. Finally, Two Sigma Investments LP increased its stake in Everspin Tech by 63.9% during the 3rd quarter. Two Sigma Investments LP now owns 170,933 shares of the business services provider’s stock worth $1,591,000 after buying an additional 66,623 shares in the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

Everspin Tech Company Profile

Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.