Short Interest in Everspin Technologies, Inc. (NASDAQ:MRAM) Decreases By 15.4%

Everspin Technologies, Inc. (NASDAQ:MRAM – Get Rating) was the target of a significant decline in short interest in July. As of July 15th, there was short interest totalling 195,700 shares, a decline of 15.4% from the June 30th total of 231,300 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average trading volume of 125,800 shares, the short-interest ratio is currently 1.6 days.

Insider Buying and Selling

In related news, VP Troy Winslow sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $6.36, for a total transaction of $63,600.00. Following the sale, the vice president now owns 23,113 shares of the company’s stock, valued at $146,998.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 17,181 shares of company stock valued at $99,576 over the last quarter. Corporate insiders own 4.13% of the company’s stock.

Institutional Trading of Everspin Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Herald Investment Management Ltd increased its holdings in Everspin Technologies by 11.0% during the second quarter. Herald Investment Management Ltd now owns 275,000 shares of the business services provider’s stock valued at $1,424,000 after buying an additional 27,262 shares during the last quarter. Royal Bank of Canada increased its holdings in Everspin Technologies by 41.9% during the first quarter. Royal Bank of Canada now owns 205,500 shares of the business services provider’s stock valued at $1,790,000 after buying an additional 60,710 shares during the last quarter. PDT Partners LLC boosted its position in shares of Everspin Technologies by 13.6% in the first quarter. PDT Partners LLC now owns 21,588 shares of the business services provider’s stock worth $188,000 after purchasing an additional 2,588 shares during the period. State Street Corp boosted its position in shares of Everspin Technologies by 12.4% in the first quarter. State Street Corp now owns 45,088 shares of the business services provider’s stock worth $393,000 after purchasing an additional 4,961 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Everspin Technologies by 2.4% in the first quarter. Renaissance Technologies LLC now owns 269,806 shares of the business services provider’s stock worth $2,350,000 after purchasing an additional 6,300 shares during the period. 54.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Everspin Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, May 20th.

Everspin Technologies Stock Down 2.7 %

Shares of Everspin Technologies stock opened at $6.44 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.60 and a current ratio of 4.33. The stock has a market capitalization of $129.01 million, a PE ratio of 19.52 and a beta of 1.31. Everspin Technologies has a 52-week low of $4.71 and a 52-week high of $14.36. The company has a 50-day simple moving average of $5.54 and a two-hundred day simple moving average of $7.38.

Everspin Technologies (NASDAQ:MRAM – Get Rating) last released its quarterly earnings data on Wednesday, May 11th. The business services provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.11. Everspin Technologies had a net margin of 11.38% and a return on equity of 27.52%. The firm had revenue of $14.35 million during the quarter.

Everspin Technologies Company Profile

(Get Rating)

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products in the United States, Hong Kong, Japan, China, Canada, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and tunnel magneto resistance sensor products, as well as foundry services for embedded MRAM.

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