EVERSPIN TECH (NASDAQ:MRAM) CEO Sanjeev Aggarwal Sells 17,147 Shares

EVERSPIN TECH (NASDAQ:MRAM) CEO Sanjeev Aggarwal sold 17,147 shares of the company’s stock in a transaction on Thursday, October 2nd. The stock was sold at an average price of $10.15, for a total transaction of $174,042.05. Following the sale, the chief executive officer directly owned 574,757 shares of the company’s stock, valued at $5,833,783.55. The trade was a 2.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Sanjeev Aggarwal also recently made the following trade(s):

• On Friday, August 8th, Sanjeev Aggarwal sold 1,768 shares of EVERSPIN TECH stock. The stock was sold at an average price of $6.02, for a total transaction of $10,643.36.
• On Thursday, August 7th, Sanjeev Aggarwal sold 1,357 shares of EVERSPIN TECH stock. The stock was sold at an average price of $6.10, for a total transaction of $8,277.70.

EVERSPIN TECH Stock Up 9.4%

EVERSPIN TECH stock opened at $11.39 on Friday. EVERSPIN TECH has a 52-week low of $4.34 and a 52-week high of $12.27. The firm has a market capitalization of $257.64 million, a price-to-earnings ratio of 162.71 and a beta of 0.36. The company has a fifty day simple moving average of $7.04 and a 200-day simple moving average of $6.24.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MRAM shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of EVERSPIN TECH in a report on Saturday, September 27th. Wall Street Zen lowered shares of EVERSPIN TECH from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $8.00.

Institutional Trading of EVERSPIN TECH

Several hedge funds have recently made changes to their positions in the business. Lynrock Lake LP lifted its position in shares of EVERSPIN TECH by 132.0% during the first quarter. Lynrock Lake LP now owns 1,586,370 shares of the business services provider’s stock worth $8,090,000 after purchasing an additional 902,489 shares in the last quarter. Herald Investment Management Ltd lifted its position in shares of EVERSPIN TECH by 12.5% during the second quarter. Herald Investment Management Ltd now owns 675,000 shares of the business services provider’s stock worth $4,239,000 after purchasing an additional 75,000 shares in the last quarter. Two Sigma Investments LP lifted its position in shares of EVERSPIN TECH by 14.4% during the fourth quarter. Two Sigma Investments LP now owns 114,917 shares of the business services provider’s stock worth $734,000 after purchasing an additional 14,428 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of EVERSPIN TECH during the second quarter worth about $716,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of EVERSPIN TECH by 41.4% during the second quarter. Qube Research & Technologies Ltd now owns 103,300 shares of the business services provider’s stock worth $650,000 after purchasing an additional 30,244 shares in the last quarter. Institutional investors and hedge funds own 44.68% of the company’s stock.

About EVERSPIN TECH

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.