Insider Selling: Everspin Technologies, Inc. (NASDAQ:MRAM) VP Sells 2,435 Shares of Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk sold 2,435 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $5.13, for a total transaction of $12,491.55. Following the sale, the vice president now owns 134,119 shares in the company, valued at $688,030.47. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Everspin Technologies Trading Up 0.2 %

MRAM opened at $5.21 on Friday. The company’s 50 day moving average is $5.81 and its 200-day moving average is $5.98. Everspin Technologies, Inc. has a 1-year low of $4.89 and a 1-year high of $8.37. The company has a market cap of $115.35 million, a P/E ratio of 86.83 and a beta of 0.79.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.05 earnings per share 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 company had revenue of $13.20 million during the quarter, compared to analyst estimates of $12.50 million.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Wolverine Trading LLC bought a new position in Everspin Technologies in the 4th quarter valued at approximately $71,000. Two Sigma Investments LP raised its holdings in Everspin Technologies by 14.4% in the 4th quarter. Two Sigma Investments LP now owns 114,917 shares of the business services provider’s stock valued at $734,000 after buying an additional 14,428 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in Everspin Technologies in the 4th quarter valued at approximately $97,000. Bank of America Corp DE raised its holdings in Everspin Technologies by 43.0% in the 4th quarter. Bank of America Corp DE now owns 17,251 shares of the business services provider’s stock valued at $110,000 after buying an additional 5,186 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in Everspin Technologies by 4.0% in the 4th quarter. Northern Trust Corp now owns 157,460 shares of the business services provider’s stock valued at $1,006,000 after buying an additional 6,127 shares during the last quarter. Institutional investors own 44.68% of the company’s stock.

Analysts Set New Price Targets

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

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.