Everspin Tech (NASDAQ:MRAM) Stock: Insider William Earl Cooper Sells 3,115 Shares

Everspin Tech (NASDAQ:MRAM) CFO William Cooper sold 3,115 shares of the company’s stock in a transaction that occurred on Friday, October 2nd. The stock was sold at an average price of $19.08, for a total value of $59,434.20. Following the sale, the chief financial officer directly owned 154,626 shares of the company’s stock, valued at $2,950,264.08. The trade was a 1.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Everspin Tech Price Performance

Shares of NASDAQ MRAM traded down $0.61 during trading hours on Monday, hitting $18.22. 786,550 shares of the stock were exchanged, compared to its average volume of 1,766,300. Everspin Tech has a one year low of $7.35 and a one year high of $51.50. The company’s 50 day moving average is $16.59 and its 200 day moving average is $18.72. The firm has a market capitalization of $443.66 million, a P/E ratio of -165.62 and a beta of 1.88.

Hedge Funds Weigh In On Everspin Tech

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Everspin Tech by 13.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 409,010 shares of the business services provider’s stock valued at $3,594,000 after purchasing an additional 46,929 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Everspin Tech by 27.9% in the 1st quarter. Renaissance Technologies LLC now owns 334,367 shares of the business services provider’s stock valued at $2,939,000 after purchasing an additional 73,000 shares during the period. Bank of America Corp DE grew its position in Everspin Tech by 783.4% in the 1st quarter. Bank of America Corp DE now owns 219,460 shares of the business services provider’s stock worth $1,929,000 after purchasing an additional 194,617 shares during the last quarter. 683 Capital Management LLC acquired a new stake in Everspin Tech in the 4th quarter worth $1,020,000. Finally, Sei Investments Co. increased its holdings in shares of Everspin Tech by 25.7% during the 1st quarter. Sei Investments Co. now owns 66,202 shares of the business services provider’s stock worth $582,000 after purchasing an additional 13,516 shares during the period. Institutional investors own 44.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on MRAM. Needham & Company LLC lifted their price objective on Everspin Tech from $18.50 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded Everspin Tech from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 25th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Everspin Tech Company Profile

Everspin Technologies, Inc develops and supplies magnetic random-access memory (MRAM) products for applications that require persistent data storage, fast access, high endurance and reliable operation. Unlike conventional volatile memory, MRAM retains data when power is removed, making it suitable for systems that need rapid recovery and data protection.

The company’s product portfolio includes parallel and serial-peripheral-interface (SPI) MRAM, Toggle MRAM and spin-transfer torque (STT-MRAM) products.