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 the firm’s 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 owns 134,119 shares of the company’s stock, valued at $688,030.47. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Everspin Technologies Trading Down 3.0 %

NASDAQ MRAM opened at $5.20 on Friday. Everspin Technologies, Inc. has a 12 month low of $4.89 and a 12 month high of $8.47. The stock has a 50-day simple moving average of $5.83 and a 200 day simple moving average of $5.99. The company has a market capitalization of $115.13 million, a PE ratio of 86.67 and a beta of 0.79.

Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.05 EPS 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 for the quarter, compared to analyst estimates of $12.50 million.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Everspin Technologies

Several hedge funds and other institutional investors have recently modified their holdings of MRAM. Wells Fargo & Company MN boosted its holdings in shares of Everspin Technologies by 42.3% during the 4th quarter. Wells Fargo & Company MN now owns 10,635 shares of the business services provider’s stock valued at $68,000 after acquiring an additional 3,159 shares in the last quarter. Wolverine Trading LLC bought a new stake in Everspin Technologies in the 4th quarter valued at about $71,000. Virtu Financial LLC bought a new stake in Everspin Technologies in the 4th quarter valued at about $75,000. Jane Street Group LLC bought a new stake in Everspin Technologies during the 3rd quarter worth approximately $82,000. Finally, Occudo Quantitative Strategies LP bought a new stake in Everspin Technologies during the 4th quarter worth approximately $97,000. Institutional investors own 44.68% of the company’s stock.

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.