Everspin Tech (NASDAQ:MRAM) CEO Sanjeev Aggarwal Sells 17,147 Shares

Key Points

• Everspin Tech CEO Sanjeev Aggarwal sold 17,147 shares of company stock at an average price of $10.15, totaling approximately $174,042, representing a 2.90% decrease in his holdings.
• The stock price of Everspin Tech (MRAM) recently traded at $11.39, showing a notable trading volume of over 1.4 million shares compared to the average of 124,236 shares.
• Wall Street analysts have issued mixed ratings for Everspin Tech, with one upgrade to a "buy" and a consensus price target of $8.00, indicating a varied outlook on the stock's future performance.

Everspin Tech (NASDAQ:MRAM - Get Free Report) CEO Sanjeev Aggarwal sold 17,147 shares of the stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $10.15, for a total transaction of $174,042.05. Following the transaction, the chief executive officer owned 574,757 shares in the company, valued at approximately $5,833,783.55. This trade represents a 2.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Sanjeev Aggarwal also recently made the following trade(s):

• On Friday, August 8th, Sanjeev Aggarwal sold 1,768 shares of Everspin Tech stock. The shares were sold at an average price of $6.02, for a total transaction of $10,643.36.
• On Thursday, August 7th, Sanjeev Aggarwal sold 1,357 shares of Everspin Tech stock. The stock was sold at an average price of $6.10, for a total value of $8,277.70.

Everspin Tech Price Performance

MRAM stock traded up $0.98 on Friday, reaching $11.39. 1,402,017 shares of the company were exchanged, compared to its average volume of 124,236. The firm has a market capitalization of $257.70 million, a PE ratio of 162.71 and a beta of 0.36. The stock's fifty day moving average price is $6.94 and its 200 day moving average price is $6.19. Everspin Tech has a 12 month low of $4.34 and a 12 month high of $12.27.

Hedge Funds Weigh In On Everspin Tech

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of Everspin Tech during the 2nd quarter valued at $25,000. Silverberg Bernstein Capital Management LLC acquired a new stake in shares of Everspin Tech during the second quarter worth $68,000. Occudo Quantitative Strategies LP bought a new position in Everspin Tech during the second quarter worth about $70,000. Bank of America Corp DE grew its stake in Everspin Tech by 43.0% in the fourth quarter. Bank of America Corp DE now owns 17,251 shares of the business services provider's stock valued at $110,000 after acquiring an additional 5,186 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Everspin Tech in the 2nd quarter valued at approximately $159,000. 44.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MRAM. Wall Street Zen upgraded Everspin Tech from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Weiss Ratings reissued a "hold (c-)" rating on shares of Everspin Tech in a report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Everspin Tech presently has an average rating of "Moderate Buy" and a consensus price target of $8.00.

About Everspin Tech

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.

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