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

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

Everspin Technologies Stock Down 2.0 %

MRAM traded down $0.13 during trading hours on Monday, hitting $6.44. The stock had a trading volume of 65,145 shares, compared to its average volume of 120,734. Everspin Technologies has a 1 year low of $4.89 and a 1 year high of $9.39. The company’s fifty day simple moving average is $6.21 and its 200 day simple moving average is $6.00. The stock has a market cap of $141.50 million, a PE ratio of 107.33 and a beta of 0.90.

Analyst Ratings Changes

A number of brokerages recently weighed in on MRAM. Needham & Company LLC reissued a “buy” rating and issued a $8.00 price target on shares of Everspin Technologies in a report on Thursday, October 31st. StockNews.com raised shares of Everspin Technologies from a “hold” rating to a “buy” rating in a research report on Saturday.

Insider Transactions at Everspin Technologies

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 17,523 shares of the business’s stock in a transaction 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 owns 440,215 shares of the company’s stock, valued at approximately $2,438,791.10. The trade was a 3.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 23,991 shares of company stock worth $135,839 in the last quarter. 6.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Everspin Technologies

Large investors have recently modified their holdings of the business. Eastern Bank purchased a new stake in shares of Everspin Technologies during the 3rd quarter valued at approximately $50,000. Mackenzie Financial Corp purchased a new stake in shares of Everspin Technologies during the second quarter worth $70,000. Jane Street Group LLC bought a new position in shares of Everspin Technologies in the third quarter worth $82,000. BNP Paribas Financial Markets boosted its holdings 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 worth $122,000 after acquiring an additional 14,220 shares during the period. Finally, Rhumbline Advisers purchased a new position in shares of Everspin Technologies in the second quarter valued at $129,000. Hedge funds and other institutional investors own 44.68% of the company’s stock.

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.