David Schrenk Sells 2,412 Shares of Everspin Technologies, Inc. (NASDAQ:MRAM) Stock

Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk sold 2,412 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $5.23, for a total transaction of $12,614.76. Following the sale, the vice president now owns 103,909 shares in the company, valued at $543,444.07. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Wednesday, August 28th, David Schrenk sold 2,396 shares of Everspin Technologies stock. The shares were sold at an average price of $5.60, for a total transaction of $13,417.60.

Everspin Technologies Trading Up 0.3 %

NASDAQ MRAM opened at $6.00 on Friday. Everspin Technologies, Inc. has a 1 year low of $4.89 and a 1 year high of $10.50. The company has a market cap of $129.13 million, a PE ratio of 16.22 and a beta of 0.90. The stock’s 50-day moving average price is $5.72 and its two-hundred day moving average price is $6.46.

Everspin Technologies (NASDAQ:MRAM) last released its quarterly earnings results on Wednesday, July 31st. The business services provider reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). Everspin Technologies had a net margin of 2.92% and a return on equity of 3.16%. The business had revenue of $10.64 million for the quarter.

Institutional Trading of Everspin Technologies

Several hedge funds and other institutional investors have recently modified their holdings of MRAM. Principal Securities Inc. acquired a new position in Everspin Technologies during the fourth quarter valued at $32,000. Mackenzie Financial Corp purchased a new stake in shares of Everspin Technologies in the second quarter worth approximately $70,000. Rhumbline Advisers purchased a new stake in shares of Everspin Technologies in the second quarter worth approximately $129,000. Trexquant Investment LP purchased a new position in Everspin Technologies during the fourth quarter valued at approximately $171,000. Finally, Victory Capital Management Inc. grew its position in Everspin Technologies by 70.4% during the fourth quarter. Victory Capital Management Inc. now owns 25,535 shares of the business services provider’s stock valued at $231,000 after purchasing an additional 10,547 shares in the last quarter. Institutional investors and hedge funds own 44.68% of the company’s stock.

Wall Street Analyst Weigh In

MRAM has been the subject of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of Everspin Technologies in a research report on Thursday, August 1st. StockNews.com downgraded Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th.

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.