GSA Capital Partners LLP Takes $433,000 Position in Everspin Tech $MRAM

GSA Capital Partners LLP acquired a new position in shares of Everspin Tech (NASDAQ:MRAM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 46,526 shares of the business services provider’s stock, valued at approximately $433,000. GSA Capital Partners LLP owned about 0.21% of Everspin Tech at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in shares of Everspin Tech during the second quarter worth approximately $25,000. Bank of America Corp DE grew its holdings in Everspin Tech by 28.6% during the 2nd quarter. Bank of America Corp DE now owns 27,150 shares of the business services provider’s stock worth $171,000 after acquiring an additional 6,041 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in Everspin Tech during the 2nd quarter worth $70,000. Rhumbline Advisers raised its position in shares of Everspin Tech by 55.1% during the 1st quarter. Rhumbline Advisers now owns 36,835 shares of the business services provider’s stock valued at $188,000 after acquiring an additional 13,086 shares during the last quarter. Finally, Thompson Davis & CO. Inc. acquired a new position in shares of Everspin Tech in the 3rd quarter valued at $131,000. Institutional investors own 44.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MRAM. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Everspin Tech in a research note on Monday, December 29th. Wall Street Zen lowered Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Needham & Company LLC increased their price target on shares of Everspin Tech from $8.00 to $10.50 and gave the company a “buy” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.50.

Insider Activity

In related news, CFO William Earl Cooper sold 6,807 shares of Everspin Tech stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $12.06, for a total value of $82,092.42. Following the sale, the chief financial officer owned 93,193 shares of the company’s stock, valued at approximately $1,123,907.58. The trade was a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.90% of the company’s stock.

Everspin Tech Stock Up 3.0%

Shares of MRAM stock opened at $11.07 on Wednesday. Everspin Tech has a 12 month low of $4.34 and a 12 month high of $17.24. The company’s fifty day simple moving average is $11.35 and its 200-day simple moving average is $9.52. The firm has a market cap of $253.06 million, a PE ratio of -369.00 and a beta of 0.83.

About Everspin Tech

Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.