Short Interest in Everspin Tech (NASDAQ:MRAM) Rises By 20.5%

Key Points

• Short interest rose by 20.5% in April to 903,197 shares (about 4.1% of the stock) with a days-to-cover ratio of 2.2.
• Everspin beat the quarter with EPS $0.11 versus $0.09 expected and revenue of $14.87M, but the company remains unprofitable and issued Q2 guidance of $0.000–$0.030 EPS.
• Market sentiment is mixed: the consensus rating is Hold with a $14 price target, the stock traded near $13.19 (up 3.5%), the CEO sold 19,440 shares, and institutions own about 44.7% of the stock.

Everspin Tech (NASDAQ:MRAM - Get Free Report) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totaling 903,197 shares, a growth of 20.5% from the March 31st total of 749,481 shares. Approximately 4.1% of the company's stock are sold short. Based on an average daily volume of 410,006 shares, the days-to-cover ratio is presently 2.2 days.

Wall Street Analyst Weigh In

A number of research firms recently commented on MRAM. Needham & Company LLC dropped their target price on shares of Everspin Tech from $15.00 to $14.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Weiss Ratings restated a "sell (d+)" rating on shares of Everspin Tech in a research note on Friday, March 27th. Finally, Wall Street Zen lowered Everspin Tech from a "buy" rating to a "hold" rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Everspin Tech has an average rating of "Hold" and a consensus price target of $14.00.

Everspin Tech Trading Up 3.5%

MRAM stock opened at $13.19 on Thursday. The company has a market capitalization of $307.20 million, a P/E ratio of -439.67 and a beta of 0.94. Everspin Tech has a twelve month low of $5.15 and a twelve month high of $17.24. The business has a 50 day simple moving average of $10.45 and a 200-day simple moving average of $10.38.

Everspin Tech (NASDAQ:MRAM - Get Free Report) last announced its earnings results on Wednesday, April 29th. The business services provider reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Everspin Tech had a negative net margin of 1.06% and a negative return on equity of 0.90%. The business had revenue of $14.87 million for the quarter, compared to analysts' expectations of $14.60 million. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insider Buying and Selling

In other Everspin Tech news, CEO Sanjeev Aggarwal sold 19,440 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $9.20, for a total transaction of $178,848.00. Following the sale, the chief executive officer owned 847,881 shares of the company's stock, valued at approximately $7,800,505.20. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MRAM. Raymond James Financial Inc. acquired a new stake in shares of Everspin Tech during the second quarter worth about $25,000. Kestra Advisory Services LLC acquired a new position in Everspin Tech in the 4th quarter valued at about $41,000. Gordian Capital Singapore Pte Ltd acquired a new position in Everspin Tech in the 3rd quarter valued at about $82,000. Algert Global LLC purchased a new stake in Everspin Tech during the 3rd quarter valued at approximately $102,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in Everspin Tech during the 2nd quarter worth approximately $70,000. 44.68% of the stock is currently owned by institutional investors and hedge funds.

Everspin Tech Company Profile

Everspin Technologies, Inc NASDAQ: MRAM is a semiconductor company specializing in the design, development and marketing of magnetoresistive random access memory (MRAM) solutions. Established in 2008 as a spin-out from Freescale Semiconductor, the company pioneered commercial MRAM products and continues to advance the technology through successive generations, including Toggle MRAM and spin-transfer torque (STT) MRAM. Everspin's non-volatile memory devices offer a unique combination of performance, endurance and data retention for a variety of applications.

The company's product portfolio includes discrete MRAM chips, embedded MRAM IP for integration into system-on-chip (SoC) designs and companion devices that leverage MRAM's fast write speeds and low power consumption.

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