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

Everspin Technologies, Inc. (NASDAQ:MRAM) was the recipient of a significant decrease in short interest in the month of 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. Based on an average trading volume of 111,900 shares, the short-interest ratio is presently 4.7 days. Approximately 3.0% of the shares of the stock are short sold.

Everspin Technologies Price Performance

Shares of NASDAQ MRAM traded down $0.09 during midday trading on Tuesday, hitting $6.39. The stock had a trading volume of 52,757 shares, compared to its average volume of 120,566. The firm has a market cap of $140.40 million, a P/E 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 company’s 50-day simple moving average is $6.22 and its 200 day simple moving average is $6.00.

Insider Buying and Selling at Everspin Technologies

In other news, CEO Sanjeev Aggarwal sold 17,523 shares of the business’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 transaction, the chief executive officer now directly owns 440,215 shares of the company’s stock, valued at $2,438,791.10. The trade was a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 23,991 shares of company stock worth $135,839 over the last three months. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Everspin Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in MRAM. Bank of New York Mellon Corp boosted its stake in shares of 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 last quarter. Rhumbline Advisers acquired a new position in Everspin Technologies in the second quarter valued at approximately $129,000. Acadian Asset Management LLC boosted its stake in Everspin Technologies by 17.0% in the second quarter. Acadian Asset Management LLC now owns 835,824 shares of the business services provider’s stock valued at $5,003,000 after acquiring an additional 121,717 shares during the last quarter. Herald Investment Management Ltd grew its holdings in Everspin Technologies by 41.7% during the 2nd quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock worth $2,835,000 after acquiring an additional 139,817 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Everspin Technologies by 15.9% during 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 during the last quarter. 44.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MRAM has been the subject of a number of research reports. StockNews.com upgraded Everspin Technologies from a “hold” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC reaffirmed a “buy” rating and issued a $8.00 target price on shares of Everspin Technologies in a research note on Thursday, October 31st.

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.