Everspin Technologies, Inc. (NASDAQ:MRAM) Short Interest Up 24.6% in April

Everspin Technologies, Inc. (NASDAQ:MRAM - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 773,800 shares, a growth of 24.6% from the March 31st total of 621,000 shares. Based on an average daily trading volume, of 102,800 shares, the days-to-cover ratio is currently 7.5 days. Currently, 4.6% of the company's stock are sold short.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Needham & Company LLC began coverage on shares of Everspin Technologies in a research report on Thursday, May 1st. They set a "buy" rating on the stock. StockNews.com downgraded shares of Everspin Technologies from a "buy" rating to a "hold" rating in a research report on Friday, February 28th.

Insider Buying and Selling at Everspin Technologies

In other Everspin Technologies news, CEO Sanjeev Aggarwal sold 16,845 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $5.00, for a total value of $84,225.00. Following the transaction, the chief executive officer now directly owns 637,983 shares in the company, valued at approximately $3,189,915. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Schrenk sold 20,000 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $5.70, for a total value of $114,000.00. Following the completion of the transaction, the vice president now directly owns 114,119 shares of the company's stock, valued at approximately $650,478.30. This trade represents a 14.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,422 shares of company stock valued at $399,429. 6.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Herald Investment Management Ltd increased its holdings in shares of Everspin Technologies by 20.0% in the 4th quarter. Herald Investment Management Ltd now owns 600,000 shares of the business services provider's stock valued at $3,822,000 after acquiring an additional 100,000 shares during the period. Geode Capital Management LLC increased its holdings in shares of Everspin Technologies by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 428,480 shares of the business services provider's stock valued at $2,739,000 after purchasing an additional 15,601 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Everspin Technologies by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 418,594 shares of the business services provider's stock worth $2,675,000 after buying an additional 16,032 shares during the period. State Street Corp raised its holdings in 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 purchasing an additional 3,298 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Everspin Technologies by 4.0% during the 4th quarter. Northern Trust Corp now owns 157,460 shares of the business services provider's stock worth $1,006,000 after buying an additional 6,127 shares during the last quarter. 44.68% of the stock is owned by institutional investors and hedge funds.

Everspin Technologies Stock Up 2.1 %

Shares of Everspin Technologies stock traded up $0.12 during trading hours on Friday, reaching $5.95. 45,626 shares of the company's stock were exchanged, compared to its average volume of 119,756. Everspin Technologies has a 1 year low of $4.34 and a 1 year high of $7.00. The company has a market capitalization of $133.68 million, a P/E ratio of 99.17 and a beta of 0.31. The business has a fifty day moving average of $5.20 and a two-hundred day moving average of $5.82.

Everspin Technologies (NASDAQ:MRAM - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The business services provider reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.06 by ($0.01). The business had revenue of $13.20 million for the quarter, compared to analysts' expectations of $12.50 million. Everspin Technologies had a return on equity of 2.74% and a net margin of 2.85%.

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.