Insider Selling: Everspin Technologies, Inc. (NASDAQ:MRAM) VP Sells 2,381 Shares of Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk sold 2,381 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $6.23, for a total value of $14,833.63. Following the transaction, the vice president now owns 91,647 shares in the company, valued at approximately $570,960.81. This represents a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

David Schrenk also recently made the following trade(s):

• On Friday, November 29th, David Schrenk sold 2,381 shares of Everspin Technologies stock. The stock was sold at an average price of $6.08, for a total value of $14,476.48.

Everspin Technologies Trading Down 0.2 %

MRAM stock traded down $0.01 during midday trading on Thursday, hitting $6.36. 266,725 shares of the company’s stock were exchanged, compared to its average volume of 120,394. Everspin Technologies, Inc. has a 1-year low of $4.89 and a 1-year high of $9.43. The stock has a market capitalization of $139.74 million, a PE ratio of 106.00 and a beta of 0.90. The business has a 50-day simple moving average of $6.20 and a two-hundred day simple moving average of $5.97.

Hedge Funds Weigh In On Everspin Technologies

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC lifted its position in Everspin Technologies by 17.0% in the second quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock valued at $5,003,000 after buying an additional 121,717 shares during the last quarter. Herald Investment Management Ltd raised its stake in shares of Everspin Technologies by 41.7% in the 2nd quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock valued at $2,835,000 after acquiring an additional 139,817 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Everspin Technologies by 75.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider’s stock valued at $681,000 after acquiring an additional 49,032 shares during the period. Rhumbline Advisers acquired a new position in shares of Everspin Technologies in the 2nd quarter worth approximately $129,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Everspin Technologies by 15.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock worth $2,440,000 after purchasing an additional 55,772 shares during the period. 44.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MRAM shares. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of Everspin Technologies in a report on Thursday, October 31st. StockNews.com downgraded shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th.

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.