Everspin Technologies (NASDAQ:MRAM) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of ($0.34)-($0.30) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.20). The company issued revenue guidance of $10.6-$11.0 million, compared to the consensus revenue estimate of $13.73 million.
NASDAQ MRAM traded down $0.36 on Wednesday, hitting $10.24. 143,673 shares of the stock were exchanged, compared to its average volume of 141,561. Everspin Technologies has a 52-week low of $6.40 and a 52-week high of $19.25. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.24 and a current ratio of 3.89. The stock has a market cap of $147.90 million, a price-to-earnings ratio of -6.06 and a beta of 2.86.
Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings data on Friday, May 11th. The business services provider reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.33. Everspin Technologies had a negative net margin of 38.03% and a negative return on equity of 80.66%. The firm had revenue of $14.85 million for the quarter, compared to analysts’ expectations of $9.60 million. During the same period in the previous year, the company posted ($0.35) EPS. The company’s quarterly revenue was up 88.5% compared to the same quarter last year. research analysts forecast that Everspin Technologies will post -0.71 EPS for the current fiscal year.
Several equities analysts have weighed in on MRAM shares. TheStreet upgraded shares of Everspin Technologies from a d rating to a c- rating in a research report on Monday. Zacks Investment Research lowered shares of Everspin Technologies from a buy rating to a hold rating in a research note on Wednesday, July 11th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Everspin Technologies has an average rating of Buy and an average price target of $13.75.
In other Everspin Technologies news, VP Thomas Andre sold 4,807 shares of Everspin Technologies stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $8.58, for a total transaction of $41,244.06. Following the completion of the sale, the vice president now owns 13,551 shares of the company’s stock, valued at approximately $116,267.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 24.00% of the company’s stock.
About Everspin Technologies
Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. The company provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.
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