Everspin Technologies (NASDAQ:MRAM) Share Price Passes Below 50 Day Moving Average – Here’s Why

Everspin Technologies, Inc. (NASDAQ:MRAM) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.26 and traded as low as $5.67. Everspin Technologies shares last traded at $5.73, with a volume of 29,283 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on MRAM shares. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Everspin Technologies in a research note on Thursday, October 31st. StockNews.com upgraded Everspin Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, December 28th.

Everspin Technologies Stock Performance

The company has a 50 day moving average of $6.26 and a 200 day moving average of $5.99. The stock has a market capitalization of $125.89 million, a price-to-earnings ratio of 95.50 and a beta of 0.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its stake in Everspin Technologies by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock valued at $2,437,000 after acquiring an additional 1,941 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Everspin Technologies by 42.3% during the fourth quarter. Wells Fargo & Company MN now owns 10,635 shares of the business services provider’s stock worth $68,000 after purchasing an additional 3,159 shares during the last quarter. State Street Corp boosted its holdings in Everspin Technologies by 1.5% in the third quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock valued at $1,294,000 after acquiring an additional 3,298 shares during the last quarter. Barclays PLC raised its position in Everspin Technologies by 6.4% in the fourth quarter. Barclays PLC now owns 56,004 shares of the business services provider’s stock valued at $357,000 after purchasing an additional 3,350 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Everspin Technologies by 9.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 59,283 shares of the business services provider’s stock worth $379,000 after acquiring an additional 5,059 shares during the last quarter. 44.68% of the stock is owned by institutional investors and hedge funds.

Everspin Technologies Company Profile

Everspin Technologies, Inc engages in the manufacture and sale of magnetoresistive random access memory (MRAM) products in the United States, Japan, Hong Kong, Germany, Singapore, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for MRAM products.