Insider Selling: Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sells $188,712.54 in Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sanjeev Aggarwal sold 35,142 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $5.37, for a total transaction of $188,712.54. Following the sale, the chief executive officer now directly owns 654,828 shares in the company, valued at approximately $3,516,426.36. This represents a 5.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Everspin Technologies Stock Down 0.2 %

Shares of NASDAQ:MRAM opened at $5.24 on Friday. Everspin Technologies, Inc. has a 52-week low of $4.89 and a 52-week high of $8.47. The stock has a market cap of $116.02 million, a price-to-earnings ratio of 87.33 and a beta of 0.79. The business has a 50-day moving average price of $5.94 and a 200-day moving average price of $6.00.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%. The business had revenue of $13.20 million for the quarter, compared to analysts’ expectations of $12.50 million.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Herald Investment Management Ltd grew its position in Everspin Technologies by 20.0% during the 4th quarter. Herald Investment Management Ltd now owns 600,000 shares of the business services provider’s stock worth $3,822,000 after purchasing an additional 100,000 shares during the period. Bailard Inc. purchased a new stake in shares of Everspin Technologies in the fourth quarter worth about $292,000. Barclays PLC grew its holdings in Everspin Technologies by 157.9% during the third quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock worth $310,000 after acquiring an additional 32,240 shares during the period. Total Clarity Wealth Management Inc. purchased a new position in Everspin Technologies during the fourth quarter valued at approximately $162,000. Finally, JPMorgan Chase & Co. lifted its holdings in Everspin Technologies by 49.3% in the third quarter. JPMorgan Chase & Co. now owns 58,668 shares of the business services provider’s stock valued at $346,000 after acquiring an additional 19,367 shares during the period. Hedge funds and other institutional investors own 44.68% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.