Rhumbline Advisers Boosts Holdings in EVERSPIN TECH (NASDAQ:MRAM)

Rhumbline Advisers boosted its position in shares of EVERSPIN TECH (NASDAQ:MRAM) by 55.1% in the first quarter, HoldingsChannel reports. The fund owned 36,835 shares of the business services provider’s stock after purchasing an additional 13,086 shares during the quarter. Rhumbline Advisers’ holdings in EVERSPIN TECH were worth $188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wolverine Trading LLC purchased a new position in shares of EVERSPIN TECH in the fourth quarter worth $71,000. Two Sigma Investments LP raised its holdings in shares of EVERSPIN TECH by 14.4% in the fourth quarter. Two Sigma Investments LP now owns 114,917 shares of the business services provider’s stock worth $734,000 after buying an additional 14,428 shares during the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of EVERSPIN TECH in the fourth quarter worth $97,000. Bank of America Corp DE raised its holdings in shares of EVERSPIN TECH by 43.0% in the fourth quarter. Bank of America Corp DE now owns 17,251 shares of the business services provider’s stock worth $110,000 after buying an additional 5,186 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of EVERSPIN TECH by 4.0% in the fourth quarter. Northern Trust Corp now owns 157,460 shares of the business services provider’s stock worth $1,006,000 after buying an additional 6,127 shares during the last quarter. Hedge funds and other institutional investors own 44.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on MRAM. Wall Street Zen cut shares of EVERSPIN TECH from a “buy” rating to a “hold” rating in a report on Friday, February 28th. Needham & Company LLC initiated coverage on shares of EVERSPIN TECH in a research note on Thursday, May 1st. They issued a “buy” rating on the stock.

EVERSPIN TECH Price Performance

NASDAQ:MRAM opened at $6.30 on Thursday. The firm has a market capitalization of $141.56 million, a P/E ratio of -315.00 and a beta of 0.18. EVERSPIN TECH has a 1-year low of $4.34 and a 1-year high of $7.00. The company’s fifty day moving average price is $5.81 and its 200-day moving average price is $5.79.

Insider Transactions at EVERSPIN TECH

In related news, CEO Sanjeev Aggarwal sold 16,845 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $5.00, for a total transaction of $84,225.00. Following the sale, the chief executive officer now owns 637,983 shares in the company, valued at approximately $3,189,915. This trade represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Schrenk sold 20,000 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $5.70, for a total transaction of $114,000.00. Following the sale, the vice president now owns 114,119 shares in the company, valued at approximately $650,478.30. This represents a 14.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,634 shares of company stock worth $220,088 over the last 90 days. 6.90% of the stock is currently owned by company insiders.

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.