Everspin Technologies (NASDAQ:MRAM) Stock Price Passes Below 50 Day Moving Average – What’s Next?

Shares of Everspin Technologies, Inc. (NASDAQ:MRAM) passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $5.30 and traded as low as $4.82. Everspin Technologies shares last traded at $4.95, with a volume of 63,313 shares trading hands.

Analyst Ratings Changes

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

Everspin Technologies Price Performance

The stock has a market cap of $110.64 million, a PE ratio of 82.50 and a beta of 0.62. The company has a 50 day moving average price of $5.30 and a two-hundred day moving average price of $5.90.

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

Insider Buying and Selling at Everspin Technologies

In related news, CEO Sanjeev Aggarwal sold 35,142 shares of Everspin Technologies stock in a transaction 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 completion of the sale, the chief executive officer now owns 654,828 shares of the company’s stock, valued at $3,516,426.36. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last ninety days, insiders sold 54,422 shares of company stock worth $285,429. Insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Herald Investment Management Ltd lifted its stake in shares of Everspin Technologies by 20.0% in the 4th quarter. Herald Investment Management Ltd now owns 600,000 shares of the business services provider’s stock worth $3,822,000 after purchasing an additional 100,000 shares during the period. Bailard Inc. purchased a new stake in Everspin Technologies during the fourth quarter valued at approximately $292,000. Barclays PLC increased its holdings in Everspin Technologies by 157.9% during the third quarter. Barclays PLC now owns 52,654 shares of the business services provider’s stock valued at $310,000 after buying an additional 32,240 shares during the last quarter. Total Clarity Wealth Management Inc. bought a new position in Everspin Technologies in the fourth quarter worth approximately $162,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Everspin Technologies by 49.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 58,668 shares of the business services provider’s stock worth $346,000 after acquiring an additional 19,367 shares during the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

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.