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

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

Insiders Place Their Bets

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,523 shares of Everspin Technologies stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $5.54, for a total transaction of $97,077.42. Following the completion of the sale, the chief executive officer now owns 440,215 shares of the company’s stock, valued at $2,438,791.10. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 21,641 shares of company stock worth $119,143. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Everspin Technologies

A number of large investors have recently bought and sold shares of the business. Eastern Bank bought a new position in Everspin Technologies during the third quarter valued at about $50,000. Mackenzie Financial Corp acquired a new position in shares of Everspin Technologies during the 2nd quarter valued at about $70,000. Jane Street Group LLC bought a new position in shares of Everspin Technologies in the 3rd quarter valued at approximately $82,000. BNP Paribas Financial Markets lifted its holdings in Everspin Technologies by 222.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock worth $122,000 after purchasing an additional 14,220 shares during the last quarter. Finally, Rhumbline Advisers bought a new stake in Everspin Technologies during the second quarter worth approximately $129,000. 44.68% of the stock is currently owned by institutional investors.

Everspin Technologies Stock Up 0.7 %

Shares of MRAM traded up $0.04 during mid-day trading on Friday, hitting $6.14. 40,976 shares of the company’s stock were exchanged, compared to its average volume of 114,917. The stock has a market cap of $134.90 million, a price-to-earnings ratio of 102.33 and a beta of 0.90. The firm has a fifty day moving average of $6.08 and a two-hundred day moving average of $5.95. Everspin Technologies has a twelve month low of $4.89 and a twelve month high of $9.43.

Wall Street Analyst Weigh In

MRAM has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $8.00 price objective on shares of Everspin Technologies in a research report on Thursday, October 31st. StockNews.com lowered Everspin Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 21st.

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.