Everspin Technologies (NASDAQ:MRAM) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?

Shares of Everspin Technologies, Inc. (NASDAQ:MRAM) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $5.87 and traded as low as $5.12. Everspin Technologies shares last traded at $5.21, with a volume of 144,552 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 28th.

Everspin Technologies Stock Performance

The business’s 50-day moving average price is $5.83 and its 200 day moving average price is $5.99. The company has a market cap of $115.13 million, a P/E ratio of 86.67 and a beta of 0.79.

Everspin Technologies (NASDAQ:MRAM) last announced its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Everspin Technologies had a net margin of 2.85% and a return on equity of 2.74%. The firm had revenue of $13.20 million during the quarter, compared to the consensus estimate of $12.50 million.

Insider Buying and Selling

In related news, CEO Sanjeev Aggarwal sold 35,142 shares of Everspin Technologies stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $5.37, for a total transaction of $188,712.54. Following the completion of the sale, the chief executive officer now owns 654,828 shares of the company’s stock, valued at approximately $3,516,426.36. The trade was a 5.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.10% of the stock is currently owned by insiders.

Institutional Trading of Everspin Technologies

Several hedge funds and other institutional investors have recently modified their holdings of MRAM. BNP Paribas Financial Markets boosted its holdings in shares of Everspin Technologies by 222.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock worth $122,000 after buying an additional 14,220 shares during the period. State Street Corp boosted its holdings in Everspin Technologies by 1.5% in the 3rd quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock valued at $1,294,000 after purchasing an additional 3,298 shares during the period. Jane Street Group LLC bought a new stake in Everspin Technologies in the 3rd quarter valued at about $82,000. Barclays PLC boosted its holdings in Everspin Technologies by 157.9% in the 3rd quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock valued at $310,000 after purchasing an additional 32,240 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Everspin Technologies by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock valued at $2,437,000 after purchasing an additional 1,941 shares during the period. Institutional investors own 44.68% of the company’s stock.

About Everspin Technologies

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.