Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk Sells 2,396 Shares

Everspin Technologies, Inc. (NASDAQ:MRAM) VP David Schrenk sold 2,396 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $5.60, for a total transaction of $13,417.60. Following the completion of the transaction, the vice president now owns 106,321 shares of the company’s stock, valued at approximately $595,397.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Tuesday, June 18th, David Schrenk sold 2,275 shares of Everspin Technologies stock. The shares were sold at an average price of $6.07, for a total value of $13,809.25.

Everspin Technologies Price Performance

Shares of NASDAQ:MRAM traded down $0.01 during mid-day trading on Thursday, hitting $5.53. The company had a trading volume of 14,041 shares, compared to its average volume of 125,466. The firm has a fifty day moving average price of $5.95 and a 200 day moving average price of $6.84. Everspin Technologies, Inc. has a one year low of $4.89 and a one year high of $10.50. The company has a market capitalization of $119.01 million, a PE ratio of 14.97 and a beta of 0.91.

Institutional Trading of Everspin Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp acquired a new position in Everspin Technologies during the second quarter worth $70,000. Total Clarity Wealth Management Inc. grew its position in Everspin Technologies by 11.3% during the second quarter. Total Clarity Wealth Management Inc. now owns 86,359 shares of the business services provider’s stock valued at $517,000 after buying an additional 8,767 shares during the period. Dimensional Fund Advisors LP increased its holdings in Everspin Technologies by 15.9% during the second quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock worth $2,440,000 after buying an additional 55,772 shares during the last quarter. Herald Investment Management Ltd raised its position in Everspin Technologies by 41.7% in the second quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock worth $2,835,000 after acquiring an additional 139,817 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Everspin Technologies by 17.0% in the second quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock valued at $5,003,000 after acquiring an additional 121,717 shares during the last quarter. 44.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MRAM. Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of Everspin Technologies in a research report on Thursday, August 1st. Craig Hallum cut their price target on shares of Everspin Technologies from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Finally, StockNews.com lowered Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th.

Everspin Technologies Company Profile

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.