Everspin Technologies, Inc. (NASDAQ:MRAM) Short Interest Up 21.4% in June

Everspin Technologies, Inc. (NASDAQ:MRAM) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 222,100 shares, a growth of 21.4% from the June 15th total of 183,000 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average trading volume of 158,900 shares, the short-interest ratio is presently 1.4 days.

Insider Activity

In other news, CFO Anuj Aggarwal sold 12,984 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $6.01, for a total transaction of $78,033.84. Following the transaction, the chief financial officer now owns 276,940 shares of the company’s stock, valued at approximately $1,664,409.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sanjeev Aggarwal sold 17,631 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $6.01, for a total value of $105,962.31. Following the completion of the transaction, the chief executive officer now directly owns 459,048 shares of the company’s stock, valued at approximately $2,758,878.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Anuj Aggarwal sold 12,984 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $6.01, for a total transaction of $78,033.84. Following the sale, the chief financial officer now directly owns 276,940 shares in the company, valued at approximately $1,664,409.40. The disclosure for this sale can be found here. Insiders sold 34,424 shares of company stock valued at $207,009 in the last three months. Company insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Everspin Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Securities Inc. bought a new stake in Everspin Technologies during the fourth quarter worth about $32,000. AJOVista LLC purchased a new stake in Everspin Technologies in the fourth quarter worth approximately $43,000. Silverberg Bernstein Capital Management LLC bought a new position in Everspin Technologies during the fourth quarter valued at approximately $93,000. Trexquant Investment LP purchased a new position in shares of Everspin Technologies during the fourth quarter worth approximately $171,000. Finally, Victory Capital Management Inc. raised its stake in shares of Everspin Technologies by 70.4% during the fourth quarter. Victory Capital Management Inc. now owns 25,535 shares of the business services provider’s stock worth $231,000 after acquiring an additional 10,547 shares in the last quarter. 44.68% of the stock is owned by hedge funds and other institutional investors.

Everspin Technologies Trading Up 3.3 %

Shares of Everspin Technologies stock traded up $0.22 during trading on Tuesday, hitting $6.74. The stock had a trading volume of 105,019 shares, compared to its average volume of 128,094. Everspin Technologies has a 12 month low of $5.54 and a 12 month high of $10.50. The firm has a market cap of $144.94 million, a price-to-earnings ratio of 18.20 and a beta of 0.91. The business’s 50-day moving average is $6.10 and its 200 day moving average is $7.46.

Everspin Technologies (NASDAQ:MRAM) last announced its earnings results on Wednesday, May 1st. The business services provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Everspin Technologies had a return on equity of 15.70% and a net margin of 12.77%. The business had revenue of $14.43 million during the quarter. During the same quarter in the prior year, the company earned $0.04 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MRAM shares. Craig Hallum reduced their price target on Everspin Technologies from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. StockNews.com upgraded Everspin Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, May 30th. Finally, Needham & Company LLC lowered their price target on shares of Everspin Technologies from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd.

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.