Everspin Technologies (NASDAQ:MRAM) Share Price Crosses Below Fifty Day Moving Average - Should You Sell?

Everspin Technologies, Inc. (NASDAQ:MRAM - Get Free Report)'s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $5.30 and traded as low as $4.82. Everspin Technologies shares last traded at $4.95, with a volume of 63,313 shares changing hands.

Wall Street Analysts Forecast Growth

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

Everspin Technologies Stock Performance

The business's fifty day moving average price is $5.27 and its two-hundred day moving average price is $5.89. The stock has a market capitalization of $110.98 million, a P/E ratio of 82.75 and a beta of 0.62.

Everspin Technologies (NASDAQ:MRAM - Get Free Report) last released 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 return on equity of 2.74% and a net margin of 2.85%. The company had revenue of $13.20 million during the quarter, compared to analysts' expectations of $12.50 million.

Insider Buying and Selling at Everspin Technologies

In related news, CEO Sanjeev Aggarwal sold 16,845 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $5.00, for a total transaction of $84,225.00. Following the transaction, the chief executive officer now directly owns 637,983 shares in the company, valued at approximately $3,189,915. This represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 54,422 shares of company stock worth $285,429 over the last quarter. Insiders own 6.10% of the company's stock.

Institutional Trading of Everspin Technologies

Several institutional investors have recently added to or reduced their stakes in MRAM. Herald Investment Management Ltd lifted its holdings 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 valued at $3,822,000 after buying an additional 100,000 shares in the last quarter. Bailard Inc. purchased a new stake in Everspin Technologies during the fourth quarter worth $292,000. Barclays PLC lifted its stake in shares of Everspin Technologies by 157.9% during the 3rd quarter. Barclays PLC now owns 52,654 shares of the business services provider's stock worth $310,000 after purchasing an additional 32,240 shares during the last quarter. Total Clarity Wealth Management Inc. purchased a new stake in shares of Everspin Technologies during the fourth quarter valued at about $162,000. Finally, JPMorgan Chase & Co. boosted its stake 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 in the last quarter. Institutional investors 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.