Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sanjeev Aggarwal Sells 17,631 Shares

Everspin Technologies, Inc. (NASDAQ:MRAM) CEO Sanjeev Aggarwal sold 17,631 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $6.01, for a total value of $105,962.31. Following the transaction, the chief executive officer now owns 459,048 shares in the company, valued at $2,758,878.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Everspin Technologies Stock Up 1.6 %

Shares of NASDAQ MRAM traded up $0.10 during midday trading on Wednesday, reaching $6.43. The company had a trading volume of 85,228 shares, compared to its average volume of 129,060. The stock has a market cap of $138.37 million, a PE ratio of 17.11 and a beta of 0.91. Everspin Technologies, Inc. has a one year low of $5.54 and a one year high of $10.50. The firm’s fifty day moving average price is $6.23 and its 200-day moving average price is $7.65.

Everspin Technologies (NASDAQ:MRAM) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $14.43 million during the quarter. Everspin Technologies had a return on equity of 15.70% and a net margin of 12.77%. During the same quarter in the prior year, the business earned $0.04 earnings per share.

Wall Street Analysts Forecast Growth

MRAM has been the subject of several research reports. StockNews.com raised Everspin Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, May 30th. Craig Hallum lowered their price objective on shares of Everspin Technologies from $11.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Needham & Company LLC reduced their target price on shares of Everspin Technologies from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd.

Institutional Investors Weigh In On Everspin Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRAM. Quadrature Capital Ltd increased its holdings in Everspin Technologies by 12.4% during the 3rd quarter. Quadrature Capital Ltd now owns 31,255 shares of the business services provider’s stock valued at $309,000 after purchasing an additional 3,453 shares during the period. Citigroup Inc. purchased a new position in shares of Everspin Technologies during the third quarter valued at approximately $339,000. Silverberg Bernstein Capital Management LLC bought a new position in shares of Everspin Technologies during the fourth quarter valued at approximately $93,000. Victory Capital Management Inc. lifted its stake in Everspin Technologies by 70.4% in the fourth quarter. Victory Capital Management Inc. now owns 25,535 shares of the business services provider’s stock worth $231,000 after acquiring an additional 10,547 shares during the period. Finally, AJOVista LLC purchased a new stake in Everspin Technologies in the fourth quarter worth $43,000. 44.68% of the stock is currently owned by institutional investors.

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.