Everspin Technologies, Inc. (NASDAQ:MRAM - Get Free Report) CEO Sanjeev Aggarwal sold 35,142 shares of Everspin Technologies stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $5.37, for a total value of $188,712.54. Following the transaction, the chief executive officer now owns 654,828 shares of the company's stock, valued at $3,516,426.36. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Everspin Technologies Stock Performance
Shares of MRAM opened at $5.23 on Wednesday. The stock has a fifty day moving average of $5.99 and a two-hundred day moving average of $6.01. The company has a market capitalization of $115.80 million, a PE ratio of 87.17 and a beta of 0.79. Everspin Technologies, Inc. has a fifty-two week low of $4.89 and a fifty-two week high of $8.66.
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 the consensus estimate of $0.06 by ($0.01). The business had revenue of $13.20 million during the quarter, compared to analyst estimates of $12.50 million. Everspin Technologies had a net margin of 2.85% and a return on equity of 2.74%.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of MRAM. Wells Fargo & Company MN grew its stake in shares of 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 valued at $68,000 after buying an additional 3,159 shares during the period. Wolverine Trading LLC purchased a new stake in shares of Everspin Technologies during the 4th quarter valued at $71,000. Virtu Financial LLC purchased a new stake in shares of Everspin Technologies during the 4th quarter valued at $75,000. Jane Street Group LLC purchased a new stake in shares of Everspin Technologies during the 3rd quarter valued at $82,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Everspin Technologies during the 4th quarter valued at $97,000. 44.68% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, StockNews.com downgraded Everspin Technologies from a "buy" rating to a "hold" rating in a research report on Friday, February 28th.
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About Everspin Technologies
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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.
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