Insider Selling: Everspin Tech (NASDAQ:MRAM) CEO Sells $112,105.69 in Stock

Everspin Tech (NASDAQ:MRAM - Get Free Report) CEO Sanjeev Aggarwal sold 17,327 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $6.47, for a total value of $112,105.69. Following the transaction, the chief executive officer owned 607,706 shares in the company, valued at approximately $3,931,857.82. The trade was a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, July 3rd, Sanjeev Aggarwal sold 12,677 shares of Everspin Tech stock. The shares were sold at an average price of $6.82, for a total value of $86,457.14.

Everspin Tech Trading Down 1.8%

Shares of MRAM stock traded down $0.12 during mid-day trading on Monday, reaching $6.72. The stock had a trading volume of 105,282 shares, compared to its average volume of 114,269. The firm has a market capitalization of $151.00 million, a PE ratio of -336.00 and a beta of 0.20. The stock's 50-day moving average price is $6.01 and its two-hundred day moving average price is $5.79. Everspin Tech has a 52-week low of $4.34 and a 52-week high of $7.09.

Analysts Set New Price Targets

Separately, Needham & Company LLC began coverage on shares of Everspin Tech in a research note on Thursday, May 1st. They issued a "buy" rating on the stock.

Institutional Trading of Everspin Tech

Several large investors have recently modified their holdings of the business. Wells Fargo & Company MN raised its position in Everspin Tech 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 purchasing an additional 3,159 shares during the last quarter. Wolverine Trading LLC purchased a new position in shares of Everspin Tech during the fourth quarter valued at approximately $71,000. Virtu Financial LLC bought a new position in shares of Everspin Tech during the fourth quarter valued at approximately $75,000. Occudo Quantitative Strategies LP bought a new position in shares of Everspin Tech during the fourth quarter valued at approximately $97,000. Finally, Bank of America Corp DE lifted 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 worth $110,000 after acquiring an additional 5,186 shares during the period. 44.68% of the stock is owned by institutional investors.

Everspin Tech 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.

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