Shares of Everspin Tech (NASDAQ:MRAM) have been assigned an average broker rating score of 1.00 (Strong Buy) from the four brokers that cover the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a strong buy rating.

Analysts have set a 1 year consensus price objective of $15.25 for the company and are anticipating that the company will post ($0.37) EPS for the current quarter, according to Zacks. Zacks has also assigned Everspin Tech an industry rank of 110 out of 265 based on the ratings given to its competitors.

A number of analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $24.00 price target on shares of Everspin Tech in a research note on Monday, August 28th. Stifel Nicolaus restated a “buy” rating and issued a $18.00 price target on shares of Everspin Tech in a research note on Thursday, October 12th. Zacks Investment Research upgraded Everspin Tech from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. decreased their price target on Everspin Tech from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, November 15th. Finally, Canaccord Genuity decreased their price target on Everspin Tech from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, November 17th.

Everspin Tech (MRAM) traded down $0.54 during trading hours on Thursday, hitting $6.96. The stock had a trading volume of 320,100 shares, compared to its average volume of 162,064. The company has a current ratio of 3.04, a quick ratio of 2.27 and a debt-to-equity ratio of 0.74. Everspin Tech has a 1-year low of $6.63 and a 1-year high of $25.39.

Everspin Tech (NASDAQ:MRAM) last posted its quarterly earnings results on Monday, November 13th. The business services provider reported ($0.43) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.45) by $0.02. Everspin Tech had a negative return on equity of 108.26% and a negative net margin of 66.90%. The firm had revenue of $8.30 million for the quarter, compared to the consensus estimate of $9.90 million. Everspin Tech’s revenue for the quarter was up 31.7% on a year-over-year basis. equities analysts predict that Everspin Tech will post -1.72 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the stock. Concert Wealth Management Inc. purchased a new stake in Everspin Tech during the second quarter worth $264,000. Renaissance Technologies LLC purchased a new stake in Everspin Tech during the first quarter worth $126,000. Wells Fargo & Company MN purchased a new stake in Everspin Tech during the second quarter worth $322,000. B. Riley Financial Inc. purchased a new stake in Everspin Tech during the second quarter worth $346,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in Everspin Tech during the second quarter worth $419,000. Hedge funds and other institutional investors own 24.32% of the company’s stock.

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Everspin Tech Company Profile

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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