Everspin Technologies (NASDAQ:MRAM) Share Price Crosses Below 50-Day Moving Average - What's Next?

Everspin Technologies, Inc. (NASDAQ:MRAM - Get Free Report)'s share 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 traded.

Analyst Upgrades and Downgrades

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 Up 0.2 %

The firm has a market cap of $115.35 million, a P/E ratio of 86.83 and a beta of 0.79. The company's 50-day moving average is $5.81 and its two-hundred day moving average is $5.98.

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

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Insider Buying and Selling at Everspin Technologies

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 35,142 shares of the stock in a transaction dated Friday, March 7th. The shares were 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 in the company, valued at approximately $3,516,426.36. This trade represents a 5.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 6.10% of the company's stock.

Institutional Investors Weigh In On Everspin Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRAM. Geode Capital Management LLC increased its stake in shares of 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 purchasing an additional 1,941 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Everspin Technologies by 42.3% during the 4th quarter. Wells Fargo & Company MN now owns 10,635 shares of the business services provider's stock worth $68,000 after purchasing an additional 3,159 shares during the last quarter. State Street Corp increased its stake in shares of 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 purchasing an additional 3,298 shares during the last quarter. Barclays PLC increased its stake in shares of Everspin Technologies by 6.4% during the 4th quarter. Barclays PLC now owns 56,004 shares of the business services provider's stock worth $357,000 after purchasing an additional 3,350 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Everspin Technologies by 9.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 59,283 shares of the business services provider's stock worth $379,000 after purchasing an additional 5,059 shares during the last quarter. Hedge funds and other institutional investors own 44.68% of the company's stock.

About Everspin Technologies

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.