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

Everspin Technologies, Inc. (NASDAQ:MRAM - Get Free Report) saw a significant 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 trading volume of 111,900 shares, the days-to-cover ratio is currently 4.7 days. Approximately 3.0% of the shares of the company are sold short.

Insider Activity

In other news, CEO Sanjeev Aggarwal sold 17,523 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 440,215 shares of the company's stock, valued at approximately $2,438,791.10. This trade represents a 3.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 23,991 shares of company stock valued at $135,839. 6.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its holdings in shares of 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 worth $5,003,000 after acquiring an additional 121,717 shares during the last quarter. Herald Investment Management Ltd lifted its stake in Everspin Technologies by 41.7% in the 2nd 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 last quarter. Geode Capital Management LLC boosted its position in Everspin Technologies by 0.5% in the third quarter. Geode Capital Management LLC now owns 412,879 shares of the business services provider's stock valued at $2,437,000 after buying an additional 1,941 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Everspin Technologies by 15.9% during the second quarter. Dimensional Fund Advisors LP now owns 407,444 shares of the business services provider's stock worth $2,440,000 after buying an additional 55,772 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Everspin Technologies by 1.5% during the third quarter. State Street Corp now owns 219,393 shares of the business services provider's stock worth $1,294,000 after buying an additional 3,298 shares in the last quarter. 44.68% of the stock is currently owned by institutional investors and hedge funds.

Everspin Technologies Stock Performance

Shares of Everspin Technologies stock traded up $0.02 on Friday, reaching $6.57. 102,800 shares of the stock were exchanged, compared to its average volume of 120,971. The firm has a market cap of $144.36 million, a PE ratio of 109.50 and a beta of 0.90. The firm's 50 day moving average is $6.21 and its 200-day moving average is $6.00. Everspin Technologies has a one year low of $4.89 and a one year high of $9.40.

Analyst Upgrades and Downgrades

A number of research firms have commented on MRAM. Needham & Company LLC restated a "buy" rating and set a $8.00 price objective on shares of Everspin Technologies in a research note on Thursday, October 31st. StockNews.com upgraded Everspin Technologies from a "hold" rating to a "buy" rating in a research report on Saturday.

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.