Everspin Tech (NASDAQ:MRAM) Short Interest Up 20.2% in January

Everspin Tech (NASDAQ:MRAM) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 637,446 shares, a growth of 20.2% from the January 15th total of 530,446 shares. Currently, 3.0% of the company’s shares are sold short. Based on an average daily trading volume, of 1,677,219 shares, the short-interest ratio is presently 0.4 days. Based on an average daily trading volume, of 1,677,219 shares, the short-interest ratio is presently 0.4 days. Currently, 3.0% of the company’s shares are sold short.

Insider Activity at Everspin Tech

In related news, CFO William Earl Cooper sold 6,807 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $12.06, for a total transaction of $82,092.42. Following the transaction, the chief financial officer owned 93,193 shares in the company, valued at $1,123,907.58. The trade was a 6.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Everspin Tech

Hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Everspin Tech during the second quarter valued at approximately $25,000. Kestra Advisory Services LLC purchased a new stake in shares of Everspin Tech during the 4th quarter valued at $41,000. Occudo Quantitative Strategies LP bought a new stake in shares of Everspin Tech during the 2nd quarter worth $70,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Everspin Tech in the 3rd quarter worth about $82,000. Finally, Algert Global LLC purchased a new position in shares of Everspin Tech in the 3rd quarter worth about $102,000. Institutional investors own 44.68% of the company’s stock.

Everspin Tech Trading Up 1.8%

Shares of Everspin Tech stock opened at $11.11 on Thursday. The company has a market capitalization of $253.97 million, a P/E ratio of -370.33 and a beta of 0.83. The stock has a fifty day simple moving average of $11.21 and a 200 day simple moving average of $9.35. Everspin Tech has a 12-month low of $4.34 and a 12-month high of $17.24.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Everspin Tech in a report on Monday, December 29th. Wall Street Zen downgraded Everspin Tech from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Needham & Company LLC raised their price objective on Everspin Tech from $8.00 to $10.50 and gave the company a “buy” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.50.

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.