Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk Sells 2,381 Shares

Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk sold 2,381 shares of Everspin Technologies stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $6.08, for a total transaction of $14,476.48. Following the completion of the sale, the vice president now owns 94,028 shares in the company, valued at $571,690.24. This trade represents a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, September 18th, David Schrenk sold 2,412 shares of Everspin Technologies stock. The shares were sold at an average price of $5.23, for a total value of $12,614.76.

Everspin Technologies Stock Down 1.6 %

Shares of NASDAQ MRAM traded down $0.10 during midday trading on Tuesday, reaching $6.17. 54,335 shares of the company were exchanged, compared to its average volume of 118,690. Everspin Technologies, Inc. has a one year low of $4.89 and a one year high of $9.43. The stock’s 50-day moving average price is $6.09 and its 200-day moving average price is $5.95. The stock has a market cap of $135.55 million, a P/E ratio of 102.83 and a beta of 0.90.

Institutional Investors Weigh In On Everspin Technologies

A number of institutional investors have recently added to or reduced their stakes in MRAM. Eastern Bank acquired a new stake in Everspin Technologies in the third quarter valued at $50,000. Mackenzie Financial Corp bought a new stake in Everspin Technologies in the second quarter valued at approximately $70,000. Jane Street Group LLC acquired a new position in shares of Everspin Technologies in the 3rd quarter worth approximately $82,000. BNP Paribas Financial Markets increased its position in shares of Everspin Technologies by 222.9% during the third quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock worth $122,000 after buying an additional 14,220 shares during the period. Finally, Rhumbline Advisers acquired a new position in Everspin Technologies in the second quarter valued at $129,000. 44.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MRAM has been the topic of a number of analyst reports. StockNews.com downgraded Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of Everspin Technologies in a research note on Thursday, October 31st.

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.