-$0.37 EPS Expected for Everspin Technologies Inc (MRAM) This Quarter

Equities research analysts predict that Everspin Technologies Inc (NASDAQ:MRAM) will report earnings of ($0.37) per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Everspin Technologies’ earnings. Everspin Technologies posted earnings per share of ($0.48) during the same quarter last year, which suggests a positive year-over-year growth rate of 22.9%. The company is scheduled to announce its next quarterly earnings results on Friday, March 9th.

According to Zacks, analysts expect that Everspin Technologies will report full year earnings of ($1.72) per share for the current year, with EPS estimates ranging from ($1.72) to ($1.71). For the next financial year, analysts anticipate that the business will post earnings of ($0.73) per share, with EPS estimates ranging from ($1.27) to ($0.19). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Everspin Technologies.

Everspin Technologies (NASDAQ:MRAM) last posted its earnings results on Monday, November 13th. The business services provider reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.02. Everspin Technologies 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 analyst estimates of $9.90 million. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis.

Several brokerages have commented on MRAM. Zacks Investment Research raised Everspin Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Canaccord Genuity dropped their price objective on Everspin Technologies from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, November 17th. Needham & Company LLC dropped their price objective on Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 14th. dropped their price objective on Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating on the stock in a report on Wednesday, November 15th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price objective on shares of Everspin Technologies in a report on Thursday, October 12th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Everspin Technologies currently has an average rating of “Buy” and an average target price of $16.75.

Shares of Everspin Technologies (NASDAQ MRAM) traded down $0.90 on Monday, reaching $9.76. The company’s stock had a trading volume of 234,475 shares, compared to its average volume of 227,193. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.27 and a current ratio of 3.04. Everspin Technologies has a one year low of $6.69 and a one year high of $25.39. The firm has a market capitalization of $124.60 and a price-to-earnings ratio of -5.36.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN acquired a new stake in Everspin Technologies in the second quarter valued at approximately $322,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of Everspin Technologies in the second quarter valued at approximately $419,000. B. Riley Financial Inc. lifted its position in shares of Everspin Technologies by 135.2% in the third quarter. B. Riley Financial Inc. now owns 40,720 shares of the business services provider’s stock valued at $696,000 after acquiring an additional 23,408 shares in the last quarter. Stifel Financial Corp purchased a new position in shares of Everspin Technologies in the second quarter valued at approximately $525,000. Finally, Bamco Inc. NY lifted its position in shares of Everspin Technologies by 15.5% in the second quarter. Bamco Inc. NY now owns 202,725 shares of the business services provider’s stock valued at $4,050,000 after acquiring an additional 27,183 shares in the last quarter. 24.19% of the stock is currently owned by institutional investors.

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Everspin Technologies 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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