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

Everspin Tech (NASDAQ:MRAM)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $24.18, but opened at $22.76. Everspin Tech shares last traded at $22.4160, with a volume of 332,567 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MRAM shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Everspin Tech in a report on Wednesday, June 24th. Needham & Company LLC increased their price objective on shares of Everspin Tech from $14.00 to $18.50 and gave the company a “buy” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.50.

Everspin Tech Price Performance

The company has a fifty day moving average price of $25.66 and a two-hundred day moving average price of $15.93. The firm has a market cap of $534.19 million, a price-to-earnings ratio of 2,278.78 and a beta of 1.87.

Everspin Tech (NASDAQ:MRAM) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $0.11 EPS for the quarter. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. The firm had revenue of $14.87 million for 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 news, Director Glen Hawk sold 48,563 shares of Everspin Tech stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $37.95, for a total value of $1,842,965.85. Following the transaction, the director directly owned 39,551 shares of the company’s stock, valued at $1,500,960.45. This trade represents a 55.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William Earl Cooper sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $21.75, for a total transaction of $239,250.00. Following the completion of the transaction, the chief financial officer directly owned 161,030 shares of the company’s stock, valued at $3,502,402.50. This represents a 6.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 155,510 shares of company stock valued at $4,839,122. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in Everspin Tech by 783.4% in the 1st quarter. Bank of America Corp DE now owns 219,460 shares of the business services provider’s stock worth $1,929,000 after acquiring an additional 194,617 shares in the last quarter. Renaissance Technologies LLC grew its stake in Everspin Tech by 27.9% during the 1st quarter. Renaissance Technologies LLC now owns 334,367 shares of the business services provider’s stock valued at $2,939,000 after acquiring an additional 73,000 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Everspin Tech by 25.7% in the 1st quarter. Sei Investments Co. now owns 66,202 shares of the business services provider’s stock valued at $582,000 after purchasing an additional 13,516 shares during the period. State of Wyoming acquired a new stake in shares of Everspin Tech during the first quarter worth approximately $189,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Everspin Tech by 13.0% during the first quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider’s stock worth $3,594,000 after purchasing an additional 46,929 shares during the period. 44.68% of the stock is owned by institutional investors and hedge funds.

Everspin Tech Company Profile

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.