Everspin Tech (NASDAQ:MRAM) Shares Gap Down – Here’s What Happened

Everspin Tech (NASDAQ:MRAM)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $33.35, but opened at $31.00. Everspin Tech shares last traded at $30.1640, with a volume of 1,565,333 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Needham & Company LLC lifted their price target on Everspin Tech from $14.00 to $18.50 and gave the company a “buy” rating in a research note on Thursday, April 30th. Wall Street Zen cut Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Everspin Tech currently has a consensus rating of “Hold” and an average target price of $18.50.

Everspin Tech Stock Down 4.1%

The stock has a market capitalization of $749.70 million, a PE ratio of 3,198.10 and a beta of 1.75. The company has a 50-day moving average of $14.95 and a 200 day moving average of $11.97.

Everspin Tech (NASDAQ:MRAM) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $0.11 earnings per share (EPS) for the quarter. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. The company had revenue of $14.87 million during the quarter, compared to analysts’ expectations of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insider Buying and Selling

In other Everspin Tech news, Director Darin G. Billerbeck sold 30,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $37.16, for a total value of $1,114,800.00. Following the completion of the sale, the director directly owned 124,073 shares in the company, valued at $4,610,552.68. This represents a 19.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Earl Cooper sold 11,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $21.75, for a total transaction of $239,250.00. Following the completion of the sale, the chief financial officer directly owned 161,030 shares of the company’s stock, valued at approximately $3,502,402.50. This trade represents a 6.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 139,011 shares of company stock valued at $3,947,342 in the last quarter. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Everspin Tech

A number of hedge funds have recently modified their holdings of MRAM. Raymond James Financial Inc. purchased a new position in shares of Everspin Tech during the 2nd quarter worth $25,000. Kestra Advisory Services LLC purchased a new position in shares of Everspin Tech during the 4th quarter worth approximately $41,000. Occudo Quantitative Strategies LP purchased a new position in shares of Everspin Tech during the 2nd quarter worth approximately $70,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Everspin Tech during the 3rd quarter worth approximately $82,000. Finally, Fortitude Advisory Group L.L.C. purchased a new position in shares of Everspin Tech during the 1st quarter worth approximately $99,000. 44.68% of the stock is currently owned by hedge funds and other institutional investors.

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.