Everspin Tech (NASDAQ:MRAM) Shares Cross Below 50 Day Moving Average – Should You Sell?

Everspin Tech (NASDAQ:MRAM)’s share price passed below its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $10.82 and traded as low as $10.01. Everspin Tech shares last traded at $10.92, with a volume of 822,238 shares.

Analyst Ratings Changes

MRAM has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Everspin Tech from a “buy” rating to a “hold” rating in a report on Saturday. Needham & Company LLC boosted their price objective on shares of Everspin Tech from $8.00 to $10.50 and gave the stock a “buy” rating in a research note on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Everspin Tech currently has an average rating of “Hold” and an average target price of $10.50.

Everspin Tech Price Performance

The company has a market capitalization of $249.63 million, a P/E ratio of -364.00 and a beta of 0.83. The company’s 50-day moving average price is $10.82 and its two-hundred day moving average price is $9.07.

Everspin Tech (NASDAQ:MRAM) last announced its earnings results on Wednesday, November 5th. The business services provider reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The business had revenue of $14.06 million during the quarter, compared to the consensus estimate of $14.00 million. Everspin Tech had a negative net margin of 1.06% and a negative return on equity of 0.89%.

Insider Buying and Selling

In related news, CFO William Earl Cooper sold 6,807 shares of Everspin Tech stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $12.06, for a total transaction of $82,092.42. Following the completion of the sale, the chief financial officer directly owned 93,193 shares of the company’s stock, valued at approximately $1,123,907.58. This trade represents a 6.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Darin G. Billerbeck sold 12,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $9.42, for a total value of $113,040.00. Following the completion of the sale, the director owned 124,073 shares of the company’s stock, valued at $1,168,767.66. This trade represents a 8.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new stake in shares of Everspin Tech in the second quarter valued at approximately $25,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Everspin Tech during the 3rd quarter valued at $82,000. Algert Global LLC acquired a new stake in shares of Everspin Tech during the 3rd quarter worth $102,000. Occudo Quantitative Strategies LP acquired a new stake in shares of Everspin Tech during the 2nd quarter worth $70,000. Finally, Thompson Davis & CO. Inc. bought a new position in shares of Everspin Tech in the third quarter worth $131,000. 44.68% of the stock is owned by institutional investors.

About Everspin Tech

Everspin Technologies, Inc (NASDAQ: MRAM) is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin’s non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company’s product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM’s fast write speeds and low power consumption.