Everspin Technologies (NASDAQ:MRAM) Shares Cross Below 50-Day Moving Average – Time to Sell?

Everspin Technologies, Inc. (NASDAQ:MRAM)’s share price passed below its fifty day moving average during trading on Friday . The stock has a fifty 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MRAM shares. Needham & Company LLC reiterated 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 note on Saturday, December 28th.

Everspin Technologies Price Performance

The stock has a market capitalization of $125.89 million, a P/E ratio of 95.50 and a beta of 0.88. The firm has a 50 day moving average of $6.26 and a 200-day moving average of $6.00.

Hedge Funds Weigh In On Everspin Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in shares of Everspin Technologies in the 3rd quarter worth approximately $50,000. Wells Fargo & Company MN lifted its stake in shares of Everspin Technologies by 42.3% in the 4th quarter. Wells Fargo & Company MN now owns 10,635 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 3,159 shares during the period. Virtu Financial LLC acquired a new position in shares of Everspin Technologies in the 4th quarter valued at $75,000. Jane Street Group LLC bought a new stake in shares of Everspin Technologies in the 3rd quarter valued at $82,000. Finally, BNP Paribas Financial Markets increased its position in shares of Everspin Technologies by 222.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock valued at $122,000 after buying an additional 14,220 shares in the last quarter. 44.68% of the stock is currently owned by institutional investors.

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.