Insider Buying: Everspin Technologies Inc (MRAM) Director Purchases 14,286 Shares of Stock

Everspin Technologies Inc (NASDAQ:MRAM) Director Michael B. Gustafson purchased 14,286 shares of Everspin Technologies stock in a transaction dated Monday, February 12th. The shares were bought at an average price of $7.00 per share, with a total value of $100,002.00. Following the completion of the transaction, the director now owns 14,286 shares in the company, valued at approximately $100,002. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Everspin Technologies Inc (NASDAQ MRAM) traded down $0.08 during mid-day trading on Tuesday, hitting $7.24. 139,009 shares of the stock were exchanged, compared to its average volume of 293,252. 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 Inc has a 52 week low of $6.40 and a 52 week high of $25.39. The firm has a market cap of $92.43 and a P/E ratio of -3.98.

Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data on Monday, November 13th. The business services provider reported ($0.43) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $9.90 million. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. equities research analysts expect that Everspin Technologies Inc will post -1.72 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the stock. Bamco Inc. NY raised its position in shares of Everspin Technologies by 20.3% during the 3rd quarter. Bamco Inc. NY now owns 243,825 shares of the business services provider’s stock worth $4,167,000 after purchasing an additional 41,100 shares during the last quarter. Royce & Associates LP raised its position in shares of Everspin Technologies by 24.0% during the 4th quarter. Royce & Associates LP now owns 172,300 shares of the business services provider’s stock worth $1,292,000 after purchasing an additional 33,400 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Everspin Technologies by 248.2% during the 2nd quarter. Vanguard Group Inc. now owns 138,842 shares of the business services provider’s stock worth $2,774,000 after purchasing an additional 98,963 shares during the last quarter. EAM Investors LLC raised its position in shares of Everspin Technologies by 223.3% during the 3rd quarter. EAM Investors LLC now owns 126,205 shares of the business services provider’s stock worth $2,157,000 after purchasing an additional 87,167 shares during the last quarter. Finally, B. Riley Financial Inc. raised its position in shares of Everspin Technologies by 21.1% during the 4th quarter. B. Riley Financial Inc. now owns 49,300 shares of the business services provider’s stock worth $370,000 after purchasing an additional 8,580 shares during the last quarter. Hedge funds and other institutional investors own 23.91% of the company’s stock.

A number of equities research analysts have recently issued reports on MRAM shares. Needham & Company LLC reiterated a “buy” rating and set a $17.00 price target on shares of Everspin Technologies in a research report on Thursday, January 18th. Zacks Investment Research downgraded shares of Everspin Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. reduced their price target on shares of Everspin Technologies from $24.00 to $17.00 and set a “strong-buy” rating for the company in a research report on Wednesday, November 15th. Finally, Canaccord Genuity reduced their price target on shares of Everspin Technologies from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, November 17th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Everspin Technologies has a consensus rating of “Buy” and a consensus price target of $16.75.

TRADEMARK VIOLATION NOTICE: “Insider Buying: Everspin Technologies Inc (MRAM) Director Purchases 14,286 Shares of Stock” was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another domain, it was stolen and republished in violation of U.S. & international copyright law. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/02/13/insider-buying-everspin-technologies-inc-mram-director-purchases-14286-shares-of-stock.html.

About Everspin Technologies

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.

Receive News & Ratings for Everspin Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everspin Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply