Everspin Technologies (NASDAQ:MRAM) Issues Quarterly Earnings Results

Everspin Technologies (NASDAQ:MRAM) posted its earnings results on Thursday. The business services provider reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.02), Briefing.com reports. The business had revenue of $9.20 million for the quarter, compared to the consensus estimate of $8.75 million. Everspin Technologies had a negative return on equity of 41.98% and a negative net margin of 22.86%. The business’s revenue was down 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.33) earnings per share.

MRAM stock traded down $0.25 during midday trading on Friday, hitting $5.49. 121,400 shares of the company’s stock were exchanged, compared to its average volume of 70,294. The stock’s fifty day moving average price is $5.81 and its 200-day moving average price is $6.61. The company has a market cap of $101.71 million, a PE ratio of -5.08 and a beta of 2.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.61 and a current ratio of 2.27. Everspin Technologies has a one year low of $5.01 and a one year high of $9.83.

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Several research firms have weighed in on MRAM. ValuEngine lowered Everspin Technologies from a “strong-buy” rating to a “buy” rating in a report on Monday, August 12th. Zacks Investment Research upgraded Everspin Technologies from a “sell” rating to a “hold” rating in a report on Thursday, July 18th.

Everspin Technologies Company Profile

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States, Japan, China, Germany, Singapore, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and embedded MRAM products, as well as magnetic sensors and aerospace and satellite electronic systems.

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Earnings History for Everspin Technologies (NASDAQ:MRAM)

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