Traders Are Bullish Everspin Technologies, Inc. (MRAM) After The Stock Formed Bullish Descending Triangle Pattern

June 14, 2018 - By Jimmy Baldridge

The stock of Everspin Technologies, Inc. (MRAM) formed a descending triangle with $9.57 target or 4.00 % above today’s $9.20 share price. The 8 months triangle pattern indicates low risk for the $153.40M company. If the $9.57 price target is reached, the company will be worth $6.14M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock increased 8.24% or $0.7 during the last trading session, reaching $9.2. About 216,893 shares traded or 123.25% up from the average. Everspin Technologies, Inc. (NASDAQ:MRAM) has declined 38.01% since June 14, 2017 and is downtrending. It has underperformed by 50.58% the S&P500.

Analysts await Everspin Technologies, Inc. (NASDAQ:MRAM) to report earnings on August, 9. They expect $-0.43 earnings per share, down 7.50 % or $0.03 from last year’s $-0.4 per share. After $-0.09 actual earnings per share reported by Everspin Technologies, Inc. for the previous quarter, Wall Street now forecasts 377.78 % negative EPS growth.

More recent Everspin Technologies, Inc. (NASDAQ:MRAM) news were published by: which released: “Glancy Prongay & Murray LLP Continues Investigation on Behalf of Everspin Technologies, Inc. Investors (MRAM)” on June 02, 2018. Also published the news titled: “Everspin to Participate at the Cowen TMT Conference on May 31” on May 16, 2018.‘s news article titled: “Everspin to Present at the Stifel Cross Sector Insight Conference on June 12” with publication date: May 30, 2018 was also an interesting one.

Everspin Technologies, Inc. manufactures and sells magnetoresistive random access memory products to clients in the United States and internationally. The company has market cap of $153.40 million. It offers first generation, second generation, third generation, embedded MRAM, magnetic sensor, and aerospace and satellite electronic systems. It currently has negative earnings. The firm provides its products for applications, including industrial, automotive, transportation, and enterprise storage markets.

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