Everspin Technologies, Inc. (NASDAQ:MRAM) VP Sells $114,000.00 in Stock

Everspin Technologies, Inc. (NASDAQ:MRAM - Get Free Report) VP David Schrenk sold 20,000 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $5.70, for a total transaction of $114,000.00. Following the sale, the vice president now directly owns 114,119 shares of the company's stock, valued at approximately $650,478.30. This trade represents a 14.91 % 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.

David Schrenk also recently made the following trade(s):

• On Tuesday, March 18th, David Schrenk sold 2,435 shares of Everspin Technologies stock. The shares were sold at an average price of $5.13, for a total transaction of $12,491.55.

Everspin Technologies Price Performance

MRAM traded up $0.11 during trading on Friday, reaching $5.94. The company had a trading volume of 65,870 shares, compared to its average volume of 119,562. The business's fifty day moving average price is $5.21 and its 200 day moving average price is $5.82. Everspin Technologies, Inc. has a 12 month low of $4.34 and a 12 month high of $7.00. The company has a market cap of $133.45 million, a P/E ratio of 99.00 and a beta of 0.31.

Everspin Technologies (NASDAQ:MRAM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.05 earnings per share 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 firm had revenue of $13.20 million for the quarter, compared to analyst estimates of $12.50 million.

Analyst Ratings Changes

MRAM has been the subject of several recent analyst reports. StockNews.com downgraded shares of Everspin Technologies from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Needham & Company LLC initiated coverage on Everspin Technologies in a report on Thursday, May 1st. They set a "buy" rating on the stock.

Institutional Investors Weigh In On Everspin Technologies

Several large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its position in Everspin Technologies by 6.6% during the first quarter. Bank of New York Mellon Corp now owns 101,384 shares of the business services provider's stock worth $517,000 after acquiring an additional 6,294 shares in the last quarter. Rhumbline Advisers increased its position in Everspin Technologies by 55.1% during the 1st quarter. Rhumbline Advisers now owns 36,835 shares of the business services provider's stock worth $188,000 after buying an additional 13,086 shares during the period. Wolverine Trading LLC acquired a new position in shares of Everspin Technologies in the fourth quarter valued at about $71,000. Two Sigma Investments LP grew its position in shares of Everspin Technologies by 14.4% during the 4th quarter. Two Sigma Investments LP now owns 114,917 shares of the business services provider's stock worth $734,000 after purchasing an additional 14,428 shares in the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in Everspin Technologies during the fourth quarter worth approximately $97,000. Institutional investors and hedge funds own 44.68% of the company's stock.

Everspin Technologies 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.