15,181 Shares in Everspin Technologies, Inc. (NASDAQ:MRAM) Acquired by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP bought a new position in shares of Everspin Technologies, Inc. (NASDAQ:MRAM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,181 shares of the business services provider’s stock, valued at approximately $97,000. Occudo Quantitative Strategies LP owned approximately 0.07% of Everspin Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its holdings in Everspin Technologies by 42.3% during the fourth quarter. Wells Fargo & Company MN now owns 10,635 shares of the business services provider’s stock worth $68,000 after buying an additional 3,159 shares in the last quarter. Virtu Financial LLC acquired a new position in Everspin Technologies in the 4th quarter worth approximately $75,000. Bank of America Corp DE boosted its stake in Everspin Technologies by 43.0% in the 4th quarter. Bank of America Corp DE now owns 17,251 shares of the business services provider’s stock worth $110,000 after purchasing an additional 5,186 shares during the period. Total Clarity Wealth Management Inc. acquired a new position in Everspin Technologies in the 4th quarter worth approximately $162,000. Finally, Bailard Inc. acquired a new position in Everspin Technologies in the 4th quarter worth approximately $292,000. 44.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MRAM has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Needham & Company LLC initiated coverage on shares of Everspin Technologies in a research note on Thursday, May 1st. They issued a “buy” rating for the company.

Everspin Technologies Stock Performance

Everspin Technologies stock opened at $6.11 on Friday. Everspin Technologies, Inc. has a 52 week low of $4.34 and a 52 week high of $7.00. The firm has a market capitalization of $137.27 million, a price-to-earnings ratio of 101.83 and a beta of 0.31. The company has a 50 day moving average price of $5.29 and a 200 day moving average price of $5.81.

Everspin Technologies (NASDAQ:MRAM) last released its earnings results 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). Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%. The company had revenue of $13.20 million during the quarter, compared to analysts’ expectations of $12.50 million.

Insiders Place Their Bets

In other Everspin Technologies news, VP David Schrenk sold 20,000 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $5.70, for a total value of $114,000.00. Following the completion of the sale, the vice president now owns 114,119 shares in the company, valued at $650,478.30. This represents a 14.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjeev Aggarwal sold 16,845 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $5.00, for a total transaction of $84,225.00. Following the completion of the sale, the chief executive officer now owns 637,983 shares of the company’s stock, valued at approximately $3,189,915. The trade was a 2.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,422 shares of company stock worth $399,429 in the last quarter. 6.90% of the stock is currently owned by corporate insiders.

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.