William Earl Cooper, Chief Financial Officer of Everspin Technologies (NASDAQ:MRAM), sold 6,807 shares of the company’s stock on January 7, 2024. The shares were sold at an average price of $12.06, amounting to a total value of $82,092.42. Following this transaction, Cooper retains 93,193 shares, which are valued at approximately $1,123,907.58. The sale represents a 6.81% decrease in his ownership stake in the company.
This sale was disclosed in a legal filing with the Securities and Exchange Commission, accessible through their official platform.
Market Reaction and Company Performance
On the day following the sale, Everspin Tech’s stock saw a decline of 1.1%, closing at $11.85. A total of 642,166 shares changed hands, slightly below the average trading volume of 697,113 shares. Everspin Tech currently holds a market capitalization of approximately $270.86 million, with a price-to-earnings (P/E) ratio of -395.00 and a beta of 0.80.
The company’s recent performance has shown some volatility, with a 50-day moving average of $9.07 and a 200-day moving average of $8.15. Over the past year, the stock has fluctuated significantly, recording a 52-week low of $4.34 and a 52-week high of $13.00.
Everspin Tech last released its quarterly earnings on November 5, 2023, reporting earnings per share of $0.06, which surpassed analyst expectations of $0.05 by $0.01. The company’s revenue for that quarter reached $14.06 million, slightly exceeding the forecast of $14.00 million. Despite these positive figures, Everspin recorded a negative return on equity of 0.89% and a negative net margin of 1.06%. Looking ahead, Everspin Tech has set a guidance range for Q4 2025 of $0.080-$0.130 earnings per share.
Analyst Ratings and Future Outlook
Recent updates from equity research analysts indicate a mix of perspectives on Everspin’s stock. Needham & Company LLC raised their price target from $8.00 to $10.50, assigning a “buy” rating. Meanwhile, Wall Street Zen upgraded the stock from a “hold” to a “buy” rating. In contrast, Weiss Ratings maintained a “sell (d+)” rating on the shares. Overall, one analyst has rated the stock as a buy, while another has issued a sell rating, leading to a consensus rating of “hold” with an average target price of $10.50, according to data from MarketBeat.
Everspin Technologies, founded in 2008, specializes in the design and marketing of magnetoresistive random access memory (MRAM) solutions. As a pioneer in commercial MRAM products, the company continues to innovate, with products that include discrete MRAM chips and embedded MRAM IP for system-on-chip designs. The firm’s offerings are noted for their performance, endurance, and data retention capabilities across various applications.
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