EVERSPIN TECH (NASDAQ:MRAM)‘s stock had its “buy” rating reissued by Stifel Nicolaus in a research note issued to investors on Thursday. They presently have a $18.00 price objective on the business services provider’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 53.85% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price target on shares of EVERSPIN TECH in a report on Monday, August 28th. Zacks Investment Research raised EVERSPIN TECH from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $18.00 price target (up from $12.00) on shares of EVERSPIN TECH in a report on Monday, August 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. EVERSPIN TECH currently has an average rating of “Buy” and an average target price of $18.50.

EVERSPIN TECH (NASDAQ MRAM) traded down 6.55% during midday trading on Thursday, hitting $11.70. The stock had a trading volume of 248,724 shares. EVERSPIN TECH has a 52 week low of $6.25 and a 52 week high of $19.25. The firm has a 50 day moving average of $15.53 and a 200 day moving average of $15.53. The firm’s market cap is $148.29 million.

EVERSPIN TECH (NASDAQ:MRAM) last announced its quarterly earnings results on Thursday, August 10th. The business services provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.02). The firm had revenue of $8.93 million during the quarter, compared to analysts’ expectations of $8.75 million. Equities research analysts predict that EVERSPIN TECH will post ($1.73) EPS for the current year.

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Hedge funds have recently bought and sold shares of the business. Concert Wealth Management Inc. bought a new position in EVERSPIN TECH in the second quarter valued at about $264,000. Renaissance Technologies LLC bought a new position in EVERSPIN TECH in the first quarter valued at about $126,000. Wells Fargo & Company MN bought a new position in EVERSPIN TECH in the second quarter valued at about $322,000. B. Riley Financial Inc. bought a new position in EVERSPIN TECH in the second quarter valued at about $346,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in EVERSPIN TECH in the second quarter valued at about $419,000. 28.91% of the stock is currently owned by institutional investors.

About EVERSPIN TECH

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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