Insider Selling: Everspin Technologies, Inc. (NASDAQ:MRAM) VP Sells $12,491.55 in Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk sold 2,435 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $5.13, for a total transaction of $12,491.55. Following the completion of the transaction, the vice president now directly owns 134,119 shares in the company, valued at $688,030.47. This trade represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Everspin Technologies Stock Up 0.2 %

Shares of NASDAQ:MRAM opened at $5.21 on Friday. The stock has a market cap of $115.35 million, a price-to-earnings ratio of 86.83 and a beta of 0.79. The business’s 50 day moving average is $5.81 and its 200 day moving average is $5.99. Everspin Technologies, Inc. has a 12-month low of $4.89 and a 12-month high of $8.25.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Everspin Technologies

Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Everspin Technologies by 42.3% in the 4th quarter. Wells Fargo & Company MN now owns 10,635 shares of the business services provider’s stock worth $68,000 after buying an additional 3,159 shares during the last quarter. Wolverine Trading LLC bought a new stake in Everspin Technologies during the fourth quarter worth $71,000. Virtu Financial LLC purchased a new position in Everspin Technologies in the fourth quarter worth $75,000. Jane Street Group LLC bought a new position in Everspin Technologies in the 3rd quarter valued at $82,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Everspin Technologies during the 4th quarter valued at $97,000. 44.68% of the stock is owned by institutional investors.

Everspin Technologies Company Profile

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.