It is Poised to be a Bull Market for Everspin Technologies Inc. (MRAM)

Everspin Technologies Inc. (NASDAQ: MRAM) stock jumped 39.69% on Friday to $8.94 against a previous-day closing price of $6.40. With 1.09 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.11 million shares. During the session, the Semiconductors company that operates in wider Technology sector, reached to the highest price of $8.96 whereas the lowest price it dropped to was $6.63. The 52-week range on MRAM shows that it touched its highest point at $14.36 and its lowest point at $4.71 during that stretch. It currently has a 1-year price target of $9.50. Beta for the stock currently stands at 1.30.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MRAM was up-trending over the past week, with a rise of 35.45%, but this was up by 80.24% over a month. Three-month performance surged to 54.94% while six-month performance fell -18.73%. The stock gained 59.93% in the past year, while it has lost -20.88% so far this year. A look at the trailing 12-month EPS for MRAM yields 0.33 with Next year EPS estimates of 0.37. For the next quarter, that number is 0.07. This implies an EPS growth rate of 148.00% for this year and 13.66% for next year. EPS is expected to grow by 20.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 15.60%.

Float and Shares Shorts:

At present, 19.90 million MRAM shares are outstanding with a float of 19.12 million shares on hand for trading. On Jul 14, 2022, short shares totaled 0.2 million, which was 0.98% higher than short shares on Jun 14, 2022. In addition to Mr. Darin G. Billerbeck as the firm’s Exec. Chairman, Dr. Sanjeev Aggarwal Ph.D. serves as its Pres, CEO & Director.

Institutional Ownership:

Through their ownership of 56.61% of MRAM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 7.21% of MRAM, in contrast to 33.04% held by mutual funds. Shares owned by individuals account for 29.28%. As the largest shareholder in MRAM with 9.78% of the stake, AWM Investment Co., Inc. holds 1,958,741 shares worth 1,958,741. A second-largest stockholder of MRAM, AIGH Capital Management LLC, holds 1,284,249 shares, controlling over 6.41% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in MRAM, holding 729,742 shares or 3.64% stake. With a 2.52% stake in MRAM, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 503,798 shares are owned by the mutual fund manager. The Herald Investment Trust Plc, which owns about 1.24% of MRAM stock, is the second-largest Mutual Fund holder. It holds 247,636 shares valued at 1.51 million. Vanguard Extended Market Index Fu holds 1.06% of the stake in MRAM, owning 213,096 shares worth 1.3 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MRAM since 2 analysts follow the stock currently. There are 2 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MRAM analysts setting a high price target of $10.00 and a low target of $9.00, the average target price over the next 12 months is $9.50. Based on these targets, MRAM could surge 11.86% to reach the target high and rise by 0.67% to reach the target low. Reaching the average price target will result in a growth of 6.26% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MRAM will report FY 2022 earnings on 03/16/2023. Analysts have provided yearly estimates in a range of $0.25 being high and $0.05 being low. For MRAM, this leads to a yearly average estimate of $0.15. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Everspin Technologies Inc. surprised analysts by $0.13 when it reported $0.08 EPS against a consensus estimate of -$0.04. The surprise factor in the prior quarter was $0.12. Based on analyst estimates, the high estimate for the next quarter is -$0.04 and the low estimate is -$0.04. The average estimate for the next quarter is thus -$0.04.

Summary of Insider Activity:

Insiders traded MRAM stock several times over the past three months with 7 Buys and 4 Sells. In these transactions, 153,096 shares were bought while 20,694 shares were sold. The number of buy transactions has increased to 19 while that of sell transactions has risen to 26 over the past year. The total number of shares bought during that period was 499,396 while 1,291,709 shares were sold.

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