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

Everspin Technologies, Inc. (NASDAQ:MRAM) saw a large drop in short interest in 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 short-interest ratio is presently 5.7 days. Currently, 3.3% of the company’s stock are sold short.

Everspin Technologies Stock Performance

NASDAQ:MRAM traded up $0.04 during mid-day trading on Friday, hitting $6.14. The stock had a trading volume of 40,976 shares, compared to its average volume of 119,136. Everspin Technologies has a twelve month low of $4.89 and a twelve month high of $9.43. 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 company’s 50 day simple moving average is $6.08 and its 200 day simple moving average is $5.95.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $8.00 price objective on shares of Everspin Technologies in a report on Thursday, October 31st. StockNews.com downgraded shares of Everspin Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st.

Insider Activity

In other news, CEO Sanjeev Aggarwal sold 17,523 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $5.54, for a total value of $97,077.42. Following the completion of the transaction, the chief executive officer now owns 440,215 shares in the company, valued at $2,438,791.10. This trade represents a 3.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 21,641 shares of company stock worth $119,143 in the last quarter. Corporate insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Everspin Technologies

Several hedge funds have recently bought and sold shares of MRAM. Eastern Bank acquired a new stake in shares of Everspin Technologies in the third quarter valued at approximately $50,000. Mackenzie Financial Corp acquired a new stake in shares of Everspin Technologies in the second quarter valued at approximately $70,000. Jane Street Group LLC acquired a new stake in shares of Everspin Technologies in the third quarter valued at approximately $82,000. BNP Paribas Financial Markets raised its position in shares of Everspin Technologies by 222.9% in the third quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock valued at $122,000 after buying an additional 14,220 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in shares of Everspin Technologies in the second quarter valued at approximately $129,000. 44.68% of the stock is currently owned by institutional investors and hedge funds.

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.