Everspin Technologies (NASDAQ:MRAM) Announces Earnings Results, Misses Expectations By $0.01 EPS

Everspin Technologies (NASDAQ:MRAM) released its quarterly earnings results on Wednesday. The business services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), Zacks reports. Everspin Technologies had a net margin of 2.85% and a return on equity of 2.74%.

Everspin Technologies Price Performance

Shares of MRAM traded up $0.14 during trading hours on Wednesday, hitting $5.69. The stock had a trading volume of 221,549 shares, compared to its average volume of 92,863. The stock has a fifty day moving average price of $6.18 and a 200 day moving average price of $6.01. The firm has a market capitalization of $125.02 million, a PE ratio of 94.83 and a beta of 0.88. Everspin Technologies has a 12 month low of $4.89 and a 12 month high of $9.39.

Analyst Ratings Changes

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

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.