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

Everspin Technologies, Inc. (NASDAQ:MRAM) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 577,300 shares, a decrease 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. Approximately 3.3% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MRAM shares. Needham & Company LLC reaffirmed 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 cut Everspin Technologies from a “buy” rating to a “hold” rating in a report on Thursday, November 21st.

Everspin Technologies Stock Up 0.7 %

MRAM traded up $0.04 during trading on Friday, reaching $6.14. 40,976 shares of the company’s stock were exchanged, compared to its average volume of 114,917. The company has a market capitalization of $134.90 million, a P/E ratio of 102.33 and a beta of 0.90. The business has a 50 day moving average price of $6.08 and a 200 day moving average price of $5.95. Everspin Technologies has a fifty-two week low of $4.89 and a fifty-two week high of $9.43.

Insider Buying and Selling at Everspin Technologies

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,523 shares of Everspin Technologies 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 filing with the SEC, which is available at the SEC website. Insiders sold 21,641 shares of company stock worth $119,143 over the last ninety days. Company insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Everspin Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Eastern Bank bought a new position in shares of Everspin Technologies during the 3rd quarter worth approximately $50,000. Mackenzie Financial Corp bought a new stake in Everspin Technologies in the second quarter valued at $70,000. Jane Street Group LLC acquired a new position in Everspin Technologies during the third quarter worth $82,000. BNP Paribas Financial Markets lifted its holdings in shares of Everspin Technologies by 222.9% during the third quarter. BNP Paribas Financial Markets now owns 20,599 shares of the business services provider’s stock valued at $122,000 after acquiring an additional 14,220 shares during the period. Finally, Rhumbline Advisers bought a new position in shares of Everspin Technologies during the second quarter valued at $129,000. 44.68% of the stock is owned by institutional investors.

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.