Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk Sells 3,789 Shares of Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk sold 3,789 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $5.77, for a total value of $21,862.53. Following the completion of the sale, the vice president now directly owns 110,330 shares of the company’s stock, valued at $636,604.10. This trade represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, May 5th, David Schrenk sold 20,000 shares of Everspin Technologies stock. The shares were sold at an average price of $5.70, for a total transaction of $114,000.00.
• On Tuesday, March 18th, David Schrenk sold 2,435 shares of Everspin Technologies stock. The stock was sold at an average price of $5.13, for a total transaction of $12,491.55.

Everspin Technologies Price Performance

Shares of Everspin Technologies stock opened at $5.67 on Friday. The firm’s fifty day simple moving average is $5.41 and its 200-day simple moving average is $5.81. Everspin Technologies, Inc. has a 12 month low of $4.34 and a 12 month high of $7.00. The stock has a market capitalization of $127.39 million, a price-to-earnings ratio of 94.50 and a beta of 0.31.

Everspin Technologies (NASDAQ:MRAM) last posted its quarterly earnings data on Wednesday, February 26th. The business services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Everspin Technologies had a net margin of 2.85% and a return on equity of 2.74%. The business had revenue of $13.20 million during the quarter, compared to analyst estimates of $12.50 million.

Hedge Funds Weigh In On Everspin Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN lifted its position in Everspin Technologies by 42.3% during the 4th quarter. Wells Fargo & Company MN now owns 10,635 shares of the business services provider’s stock worth $68,000 after acquiring an additional 3,159 shares during the period. Wolverine Trading LLC purchased a new position in Everspin Technologies in the 4th quarter valued at $71,000. Virtu Financial LLC acquired a new position in Everspin Technologies in the 4th quarter valued at $75,000. Occudo Quantitative Strategies LP purchased a new position in Everspin Technologies during the 4th quarter worth $97,000. Finally, Bank of America Corp DE lifted its stake in shares of Everspin Technologies by 43.0% in the 4th 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. Hedge funds and other institutional investors own 44.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Needham & Company LLC initiated coverage on Everspin Technologies in a research report on Thursday, May 1st. They set a “buy” rating on the stock.

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.