Everspin Technologies (NASDAQ:MRAM) Stock Price Crosses Below Fifty Day Moving Average – Should You Sell?

Everspin Technologies, Inc. (NASDAQ:MRAM)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $5.87 and traded as low as $5.12. Everspin Technologies shares last traded at $5.21, with a volume of 144,552 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Friday, February 28th.

Everspin Technologies Trading Down 3.0 %

The firm’s 50-day moving average price is $5.83 and its 200 day moving average price is $5.99. The company has a market capitalization of $115.13 million, a price-to-earnings ratio of 86.67 and a beta of 0.79.

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

Insider Buying and Selling

In related news, CEO Sanjeev Aggarwal sold 35,142 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $5.37, for a total transaction of $188,712.54. Following the completion of the transaction, the chief executive officer now directly owns 654,828 shares in the company, valued at $3,516,426.36. This represents a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Everspin Technologies

A number of institutional investors have recently added to or reduced their stakes in MRAM. BNP Paribas Financial Markets increased its position in Everspin Technologies by 222.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock worth $122,000 after purchasing an additional 14,220 shares in the last quarter. State Street Corp grew its holdings in Everspin Technologies by 1.5% during the 3rd quarter. State Street Corp now owns 219,393 shares of the business services provider’s stock worth $1,294,000 after acquiring an additional 3,298 shares during the last quarter. Jane Street Group LLC bought a new stake in Everspin Technologies during the 3rd quarter worth approximately $82,000. Barclays PLC grew its holdings in Everspin Technologies by 157.9% during the 3rd quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock worth $310,000 after acquiring an additional 32,240 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Everspin Technologies by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider’s stock worth $2,437,000 after acquiring an additional 1,941 shares during the last quarter. 44.68% of the stock is currently owned by institutional investors and hedge funds.

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.