Everspin Tech (NASDAQ:MRAM) Short Interest Up 27.8% in February

Everspin Tech (NASDAQ:MRAM) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 821,680 shares, a growth of 27.8% from the February 12th total of 642,812 shares. Based on an average trading volume of 363,297 shares, the days-to-cover ratio is presently 2.3 days. Currently, 3.8% of the company’s stock are short sold. Currently, 3.8% of the company’s stock are short sold. Based on an average trading volume of 363,297 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analysts Forecast Growth

MRAM has been the topic of several recent analyst reports. Needham & Company LLC cut their price objective 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. Wall Street Zen downgraded shares of Everspin Tech from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Everspin Tech presently has a consensus rating of “Hold” and a consensus price target of $14.00.

Insider Activity at Everspin Tech

In other news, CFO William Earl Cooper sold 6,807 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $12.06, for a total value of $82,092.42. Following the sale, the chief financial officer directly owned 93,193 shares of the company’s stock, valued at approximately $1,123,907.58. This represents a 6.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.90% of the company’s stock.

Hedge Funds Weigh In On Everspin Tech

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

Everspin Tech Trading Down 1.2%

Shares of NASDAQ:MRAM traded down $0.11 during midday trading on Friday, reaching $8.82. 346,084 shares of the company’s stock traded hands, compared to its average volume of 489,853. Everspin Tech has a one year low of $4.34 and a one year high of $17.24. The stock has a 50 day moving average of $11.53 and a 200 day moving average of $9.86.

Everspin Tech (NASDAQ:MRAM) last announced its quarterly earnings results on Wednesday, March 4th. The business services provider reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $14.80 million during the quarter, compared to analyst estimates of $14.45 million. Everspin Tech had a negative net margin of 1.06% and a negative return on equity of 0.90%. Everspin Tech has set its Q1 2026 guidance at 0.070-0.120 EPS.

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.