Short Interest in Everspin Tech (NASDAQ:MRAM) Increases By 211.3%

Everspin Tech (NASDAQ:MRAM) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 2,826,117 shares, an increase of 211.3% from the April 30th total of 907,808 shares. Approximately 12.9% of the shares of the company are sold short. Based on an average daily volume of 8,318,231 shares, the short-interest ratio is presently 0.3 days.

Everspin Tech Stock Performance

Shares of Everspin Tech stock opened at $26.38 on Friday. The company has a market cap of $618.61 million, a P/E ratio of 2,640.64 and a beta of 1.75. Everspin Tech has a one year low of $5.50 and a one year high of $51.50. The firm has a fifty day moving average of $18.93 and a two-hundred day moving average of $13.29.

Everspin Tech (NASDAQ:MRAM) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $0.11 EPS for the quarter. The company had revenue of $14.87 million during the quarter, compared to the consensus estimate of $14.60 million. Everspin Tech had a net margin of 0.50% and a return on equity of 4.78%. Everspin Tech has set its Q2 2026 guidance at 0.000-0.030 EPS.

Insider Activity

In related news, CEO Sanjeev Aggarwal sold 28,459 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $19.58, for a total transaction of $557,227.22. Following the completion of the sale, the chief executive officer owned 819,422 shares in the company, valued at $16,044,282.76. This represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Glen Hawk sold 48,563 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $37.95, for a total transaction of $1,842,965.85. Following the sale, the director owned 39,551 shares of the company’s stock, valued at approximately $1,500,960.45. This represents a 55.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 176,499 shares of company stock worth $5,032,220 over the last 90 days. 6.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Everspin Tech

A number of large investors have recently made changes to their positions in MRAM. Rhumbline Advisers increased its holdings in shares of Everspin Tech by 55.1% in the 1st quarter. Rhumbline Advisers now owns 36,835 shares of the business services provider’s stock valued at $188,000 after purchasing an additional 13,086 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Everspin Tech in the 2nd quarter valued at about $164,000. Marshall Wace LLP purchased a new position in shares of Everspin Tech in the 2nd quarter valued at about $716,000. Jump Financial LLC purchased a new position in shares of Everspin Tech in the 2nd quarter valued at about $159,000. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Everspin Tech by 41.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 103,300 shares of the business services provider’s stock valued at $650,000 after purchasing an additional 30,244 shares in the last quarter. Hedge funds and other institutional investors own 44.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. Needham & Company LLC upped their price objective on shares of Everspin Tech from $14.00 to $18.50 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. One 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 currently has an average rating of “Hold” and an average price target of $18.50.

About Everspin Tech

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.