Everspin Technologies, Inc. (NASDAQ:MRAM) Short Interest Down 17.0% in December

Everspin Technologies, Inc. (NASDAQ:MRAM) was the recipient of a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 525,600 shares, a decline of 17.0% from the November 30th total of 633,000 shares. Based on an average daily volume of 111,900 shares, the short-interest ratio is presently 4.7 days. Currently, 3.0% of the shares of the company are sold short.

Everspin Technologies Price Performance

Shares of MRAM traded up $0.02 during mid-day trading on Friday, reaching $6.57. The stock had a trading volume of 102,800 shares, compared to its average volume of 120,971. The business’s fifty day moving average is $6.21 and its 200 day moving average is $6.00. Everspin Technologies has a 52-week low of $4.89 and a 52-week high of $9.40. The firm has a market cap of $144.36 million, a price-to-earnings ratio of 109.50 and a beta of 0.90.

Insider Activity 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 completion of the sale, the chief executive officer now directly owns 440,215 shares in the company, valued at $2,438,791.10. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 23,991 shares of company stock worth $135,839 in the last three months. Company insiders own 6.10% of the company’s stock.

Institutional Trading of Everspin Technologies

Several hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC lifted its holdings 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 raised its position in Everspin Technologies by 41.7% in the second quarter. Herald Investment Management Ltd now owns 474,817 shares of the business services provider’s stock valued at $2,835,000 after purchasing an additional 139,817 shares during the period. Bank of New York Mellon Corp lifted 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. BNP Paribas Financial Markets grew its holdings in shares of Everspin Technologies by 222.9% during 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 period. Finally, Rhumbline Advisers purchased a new position in shares of Everspin Technologies during the 2nd quarter worth $129,000. Hedge funds and other institutional investors own 44.68% of the company’s stock.

Analyst Upgrades and Downgrades

MRAM has been the topic of a number of recent research reports. StockNews.com upgraded shares of Everspin Technologies from a “hold” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC reiterated a “buy” rating and set a $8.00 price objective on shares of Everspin Technologies in a research report 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.