Everspin Technologies shares trended after two insiders filed notices of proposed stock sales on May 21. Director Geoffrey Ribar filed to sell 27,488 shares. Officer William Cooper filed to sell 10,000 shares.
The stock experienced significant volatility prior to these disclosures. Shares fell 8.76% during the previous regular session. The stock then rose 7.01% in after-hours trading.
These filings follow a larger sale by President and CEO Sanjeev Aggarwal. Aggarwal sold 110,976 shares between May 15 and May 18.
Kerrisdale Capital released a short report on Everspin on May 19. The report set a $14 price target for the stock. Kerrisdale argued that the company's valuation is not supported by fundamentals.