Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sells $105,962.31 in Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sanjeev Aggarwal sold 17,631 shares of Everspin Technologies stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $6.01, for a total value of $105,962.31. Following the completion of the sale, the chief executive officer now owns 459,048 shares of the company’s stock, valued at $2,758,878.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Everspin Technologies Price Performance

MRAM stock traded up $0.10 during trading on Wednesday, hitting $6.43. 85,228 shares of the company traded hands, compared to its average volume of 129,060. Everspin Technologies, Inc. has a 1 year low of $5.54 and a 1 year high of $10.50. The company has a market cap of $138.37 million, a PE ratio of 17.11 and a beta of 0.91. The stock’s 50-day simple moving average is $6.23 and its 200 day simple moving average is $7.65.

Everspin Technologies (NASDAQ:MRAM) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Everspin Technologies had a return on equity of 15.70% and a net margin of 12.77%. The firm had revenue of $14.43 million for the quarter. During the same quarter last year, the firm earned $0.04 earnings per share.

Analyst Ratings Changes

A number of research analysts have commented on MRAM shares. StockNews.com raised shares of Everspin Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, May 30th. Craig Hallum cut their price objective on shares of Everspin Technologies from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Needham & Company LLC decreased their price objective on shares of Everspin Technologies from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd.

Institutional Trading of Everspin Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in shares of Everspin Technologies during the 4th quarter worth about $32,000. AJOVista LLC acquired a new position in Everspin Technologies in the 4th quarter worth about $43,000. Silverberg Bernstein Capital Management LLC purchased a new position in Everspin Technologies during the fourth quarter worth approximately $93,000. Trexquant Investment LP acquired a new stake in Everspin Technologies in the fourth quarter valued at approximately $171,000. Finally, Victory Capital Management Inc. increased its position in shares of Everspin Technologies by 70.4% in the fourth quarter. Victory Capital Management Inc. now owns 25,535 shares of the business services provider’s stock valued at $231,000 after buying an additional 10,547 shares in the last quarter. Institutional investors and hedge funds own 44.68% of the company’s stock.

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.