Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk Sells 2,435 Shares

Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk sold 2,435 shares of Everspin Technologies stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $5.13, for a total value of $12,491.55. Following the sale, the vice president now directly owns 134,119 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website.

Everspin Technologies Trading Down 3.0 %

MRAM stock traded down $0.16 during trading on Thursday, reaching $5.20. 40,635 shares of the stock were exchanged, compared to its average volume of 119,239. Everspin Technologies, Inc. has a twelve month low of $4.89 and a twelve month high of $8.47. The company has a market capitalization of $115.13 million, a P/E ratio of 86.67 and a beta of 0.79. The stock has a 50 day simple moving average of $5.85 and a 200-day simple moving average of $5.99.

Everspin Technologies (NASDAQ:MRAM) last released its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.05 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $12.50 million.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Everspin Technologies

Several large investors have recently modified their holdings of MRAM. Wells Fargo & Company MN grew 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 valued at $68,000 after purchasing an additional 3,159 shares during the period. Wolverine Trading LLC bought a new stake in shares of Everspin Technologies in the 4th quarter valued at approximately $71,000. Virtu Financial LLC bought a new stake in shares of Everspin Technologies in the 4th quarter valued at approximately $75,000. Jane Street Group LLC bought a new stake in shares of Everspin Technologies in the 3rd quarter valued at approximately $82,000. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Everspin Technologies in the 4th quarter worth approximately $97,000. 44.68% of the stock is currently 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.