Short Interest in Everspin Technologies, Inc. (NASDAQ:MRAM) Decreases By 27.7%

Everspin Technologies, Inc. (NASDAQ:MRAM) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 577,300 shares, a decline of 27.7% from the October 31st total of 798,100 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average trading volume of 101,300 shares, the short-interest ratio is presently 5.7 days.

Insider Activity at Everspin Technologies

In other 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 value of $97,077.42. Following the sale, the chief executive officer now directly owns 440,215 shares in the company, valued at approximately $2,438,791.10. This represents a 3.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 21,641 shares of company stock worth $119,143 over the last three months. Company insiders own 6.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MRAM. Eastern Bank acquired a new stake in Everspin Technologies during the 3rd quarter worth $50,000. Mackenzie Financial Corp acquired a new stake in Everspin Technologies during the 2nd quarter worth $70,000. Jane Street Group LLC acquired a new stake in Everspin Technologies during the 3rd quarter worth $82,000. BNP Paribas Financial Markets raised its stake in Everspin Technologies by 222.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock worth $122,000 after buying an additional 14,220 shares during the period. Finally, Rhumbline Advisers acquired a new stake in Everspin Technologies during the 2nd quarter worth $129,000. Institutional investors and hedge funds own 44.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MRAM. StockNews.com lowered Everspin Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $8.00 price objective on shares of Everspin Technologies in a report on Thursday, October 31st.

Everspin Technologies Price Performance

Shares of MRAM stock traded up $0.04 during trading hours on Friday, reaching $6.14. The company had a trading volume of 40,976 shares, compared to its average volume of 119,136. The company has a 50 day moving average of $6.08 and a 200 day moving average of $5.95. The firm has a market cap of $134.90 million, a price-to-earnings ratio of 102.33 and a beta of 0.90. Everspin Technologies has a 1-year low of $4.89 and a 1-year high of $9.43.

Everspin Technologies Company Profile

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.