Everspin Technologies, Inc. (NASDAQ:MRAM) Short Interest Update

Everspin Technologies, Inc. (NASDAQ:MRAM) saw a large decrease in short interest in December. As of December 15th, there was short interest totalling 525,600 shares, a decrease of 17.0% from the November 30th total of 633,000 shares. Approximately 3.0% of the company’s stock are short sold. Based on an average daily volume of 111,900 shares, the short-interest ratio is currently 4.7 days.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $8.00 target price on shares of Everspin Technologies in a research report on Thursday, October 31st. StockNews.com raised Everspin Technologies from a “hold” rating to a “buy” rating in a report on Saturday.

Insider Buying and Selling at Everspin Technologies

In related news, CEO Sanjeev Aggarwal sold 17,523 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $5.54, for a total transaction of $97,077.42. Following the sale, the chief executive officer now directly owns 440,215 shares of the company’s stock, valued at approximately $2,438,791.10. This represents a 3.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 23,991 shares of company stock valued at $135,839 in the last three months. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Everspin Technologies

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in Everspin Technologies by 75.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 113,655 shares of the business services provider’s stock valued at $681,000 after purchasing an additional 49,032 shares during the period. Rhumbline Advisers bought a new stake in shares of Everspin Technologies in the second quarter valued at about $129,000. Acadian Asset Management LLC grew its position in Everspin Technologies by 17.0% during the second quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock worth $5,003,000 after buying an additional 121,717 shares in the last quarter. Herald Investment Management Ltd increased its stake in Everspin Technologies by 41.7% during the second quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock valued at $2,835,000 after acquiring an additional 139,817 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Everspin Technologies by 15.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider’s stock valued at $2,440,000 after acquiring an additional 55,772 shares in the last quarter. 44.68% of the stock is currently owned by institutional investors.

Everspin Technologies Price Performance

Shares of MRAM stock traded down $0.09 on Tuesday, hitting $6.39. The company’s stock had a trading volume of 52,757 shares, compared to its average volume of 120,566. The stock has a market capitalization of $140.40 million, a price-to-earnings ratio of 106.50 and a beta of 0.90. Everspin Technologies has a fifty-two week low of $4.89 and a fifty-two week high of $9.39. The firm’s fifty day moving average price is $6.22 and its 200-day moving average price is $6.00.

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.