Everspin Tech (NASDAQ:MRAM) CFO Sells $59,434.20 in Stock

Everspin Tech (NASDAQ:MRAM) CFO William Cooper sold 3,115 shares of the company’s stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $19.08, for a total value of $59,434.20. Following the completion of the transaction, the chief financial officer owned 154,626 shares of the company’s stock, valued at $2,950,264.08. This trade represents a 1.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Everspin Tech Price Performance

Shares of Everspin Tech stock opened at $17.23 on Thursday. The firm has a market cap of $419.55 million, a PE ratio of -156.62 and a beta of 1.88. Everspin Tech has a 1 year low of $7.35 and a 1 year high of $51.50. The stock has a fifty day moving average price of $16.81 and a 200-day moving average price of $18.90.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MRAM shares. Weiss Ratings cut shares of Everspin Tech from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 25th. Needham & Company LLC increased their price objective on Everspin Tech from $18.50 to $19.00 and gave the company a “buy” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $19.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MRAM. Fortitude Advisory Group L.L.C. bought a new stake in Everspin Tech during the 1st quarter valued at $99,000. State of Wyoming bought a new position in shares of Everspin Tech in the first quarter worth $189,000. Gordian Capital Singapore Pte Ltd grew its position in shares of Everspin Tech by 216.7% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 28,061 shares of the business services provider’s stock valued at $260,000 after purchasing an additional 19,200 shares in the last quarter. Sei Investments Co. grew its position in shares of Everspin Tech by 25.7% in the first quarter. Sei Investments Co. now owns 66,202 shares of the business services provider’s stock valued at $582,000 after purchasing an additional 13,516 shares in the last quarter. Finally, 683 Capital Management LLC bought a new stake in shares of Everspin Tech during the 4th quarter valued at $1,020,000. 44.68% of the stock is owned by institutional investors.

Everspin Tech Company Profile

Everspin Technologies, Inc develops and supplies magnetic random-access memory (MRAM) products for applications that require persistent data storage, fast access, high endurance and reliable operation. Unlike conventional volatile memory, MRAM retains data when power is removed, making it suitable for systems that need rapid recovery and data protection.

The company’s product portfolio includes parallel and serial-peripheral-interface (SPI) MRAM, Toggle MRAM and spin-transfer torque (STT-MRAM) products.