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

Everspin Technologies, Inc. (NASDAQ:MRAM – Get Rating) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 113,200 shares, a decrease of 13.9% from the April 30th total of 131,500 shares. Approximately 0.7% of the company’s shares were short sold. Based on an average daily volume of 57,700 shares, the days-to-cover ratio is currently 2.0 days.

Everspin Technologies Stock Performance

Shares of NASDAQ:MRAM opened at $8.13 on Monday. The firm has a market cap of $167.61 million, a PE ratio of 35.35 and a beta of 1.30. The firm’s fifty day moving average is $6.81 and its 200-day moving average is $6.52. Everspin Technologies has a 52 week low of $4.71 and a 52 week high of $9.41.

Everspin Technologies (NASDAQ:MRAM – Get Rating) last released its earnings results on Wednesday, May 3rd. The business services provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $14.85 million for the quarter. Everspin Technologies had a net margin of 8.19% and a return on equity of 13.28%.

Insider Activity

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In other news, CEO Sanjeev Aggarwal sold 5,536 shares of the firm’s stock in a transaction dated Tuesday, April 4th. The stock was sold at an average price of $6.62, for a total value of $36,648.32. Following the completion of the transaction, the chief executive officer now owns 260,784 shares in the company, valued at approximately $1,726,390.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Darin G. Billerbeck sold 10,000 shares of Everspin Technologies stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $6.67, for a total value of $66,700.00. Following the transaction, the director now directly owns 86,197 shares of the company’s stock, valued at $574,933.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this hyperlink. Also, CEO Sanjeev Aggarwal sold 5,536 shares of Everspin Technologies stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $6.62, for a total transaction of $36,648.32. Following the completion of the transaction, the chief executive officer now directly owns 260,784 shares in the company, valued at $1,726,390.08. The disclosure for this sale can be found here. Insiders have sold a total of 23,197 shares of company stock valued at $152,894 in the last 90 days. 5.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Everspin Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AWM Investment Company Inc. increased its stake in shares of Everspin Technologies by 2.4% during the 4th quarter. AWM Investment Company Inc. now owns 2,006,241 shares of the business services provider’s stock worth $11,155,000 after purchasing an additional 47,500 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Everspin Technologies by 0.6% in the third quarter. Vanguard Group Inc. now owns 740,301 shares of the business services provider’s stock worth $4,287,000 after purchasing an additional 4,069 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Everspin Technologies by 51.4% during the third quarter. Royal Bank of Canada now owns 586,688 shares of the business services provider’s stock worth $3,397,000 after acquiring an additional 199,118 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Everspin Technologies by 9.6% in the first quarter. Acadian Asset Management LLC now owns 353,818 shares of the business services provider’s stock valued at $2,408,000 after acquiring an additional 31,069 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Everspin Technologies by 13.4% in the 2nd quarter. Renaissance Technologies LLC now owns 305,906 shares of the business services provider’s stock worth $1,603,000 after buying an additional 36,100 shares during the period. 41.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Everspin Technologies in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Needham & Company LLC boosted their target price on shares of Everspin Technologies from $9.00 to $10.00 and gave the stock a “strong-buy” rating in a research note on Thursday, March 2nd.

About Everspin Technologies

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Everspin Technologies, Inc engages in the provision of magnetoresistive random access memory (MRAM) solutions. Its products include Toggle MRAM, Spin-transfer Torque MRAM, TMR Sensors, and Embedded MRAM. The company was founded by Saied Tehrani in June 2008 and is headquartered in Chandler, AZ.