Everspin Tech (NASDAQ:MRAM) Stock: Insider Sean Michael Dougherty Sells 7,691 Shares

Everspin Tech (NASDAQ:MRAM) VP Sean Michael Dougherty sold 7,691 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $19.08, for a total transaction of $146,744.28. Following the completion of the transaction, the vice president owned 100,028 shares in the company, valued at approximately $1,908,534.24. The trade was a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Everspin Tech Price Performance

Shares of MRAM traded down $0.61 during trading hours on Monday, hitting $18.22. The company’s stock had a trading volume of 786,089 shares, compared to its average volume of 1,766,292. Everspin Tech has a 52-week low of $7.35 and a 52-week high of $51.50. The company has a market cap of $443.66 million, a price-to-earnings ratio of -165.62 and a beta of 1.88. The business has a 50 day simple moving average of $16.59 and a two-hundred day simple moving average of $18.72.

Institutional Trading of Everspin Tech

Institutional investors have recently added to or reduced their stakes in the business. Fortitude Advisory Group L.L.C. bought a new stake in shares of Everspin Tech in the first quarter worth $99,000. State of Wyoming purchased a new position in Everspin Tech during the first quarter valued at approximately $189,000. Gordian Capital Singapore Pte Ltd lifted its stake in shares of Everspin Tech by 216.7% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 28,061 shares of the business services provider’s stock valued at $260,000 after buying an additional 19,200 shares in the last quarter. Sei Investments Co. lifted its position in shares of Everspin Tech by 25.7% in the first quarter. Sei Investments Co. now owns 66,202 shares of the business services provider’s stock valued at $582,000 after acquiring an additional 13,516 shares in the last quarter. Finally, 683 Capital Management LLC bought a new position in Everspin Tech in the 4th quarter worth approximately $1,020,000. 44.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MRAM. Weiss Ratings cut Everspin Tech from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 25th. Needham & Company LLC raised their price target on shares of Everspin Tech from $18.50 to $19.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.00.

About Everspin Tech

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.