Insider Selling: Everspin Technologies, Inc. (NASDAQ:MRAM) VP Sells 20,000 Shares of Stock

Everspin Technologies, Inc. (NASDAQ:MRAM - Get Free Report) VP David Schrenk sold 20,000 shares of the company'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 value of $114,000.00. Following the completion of the sale, the vice president now owns 114,119 shares of the company's stock, valued at $650,478.30. This trade represents a 14.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Trading Up 4.0%

Shares of Everspin Technologies stock traded up $0.24 on Monday, reaching $6.18. 118,102 shares of the company were exchanged, compared to its average volume of 119,536. Everspin Technologies, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $7.00. The firm has a market capitalization of $138.85 million, a price-to-earnings ratio of 102.18 and a beta of 0.31. The stock has a fifty day moving average price of $5.21 and a 200-day moving average price of $5.82.

Everspin Technologies (NASDAQ:MRAM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.05 earnings per share 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 company had revenue of $13.20 million during the quarter, compared to analysts' expectations of $12.50 million.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. StockNews.com cut 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 shares of Everspin Technologies in a report on Thursday, May 1st. They set a "buy" rating for the company.

Institutional Investors Weigh In On Everspin Technologies

A number of large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in Everspin Technologies during the 3rd quarter valued at $82,000. Geode Capital Management LLC raised its position in Everspin Technologies by 0.5% during the third quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider's stock valued at $2,437,000 after buying an additional 1,941 shares during the period. Barclays PLC raised its position in Everspin Technologies by 157.9% during the third quarter. Barclays PLC now owns 52,654 shares of the business services provider's stock valued at $310,000 after buying an additional 32,240 shares during the period. JPMorgan Chase & Co. lifted its stake in Everspin Technologies by 49.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 58,668 shares of the business services provider's stock worth $346,000 after acquiring an additional 19,367 shares in the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in shares of Everspin Technologies during the fourth quarter worth approximately $162,000. 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.