Everspin Tech (NASDAQ:MRAM) Short Interest Up 211.3% in May

Everspin Tech (NASDAQ:MRAM) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 2,826,117 shares, a growth of 211.3% from the April 30th total of 907,808 shares. Based on an average daily trading volume, of 8,318,231 shares, the days-to-cover ratio is currently 0.3 days. Currently, 12.9% of the shares of the company are sold short.

Everspin Tech Price Performance

Shares of Everspin Tech stock traded down $4.88 during trading hours on Friday, reaching $26.38. The company had a trading volume of 5,667,401 shares, compared to its average volume of 6,753,462. Everspin Tech has a one year low of $5.50 and a one year high of $51.50. The business has a fifty day simple moving average of $18.93 and a 200 day simple moving average of $13.29. The firm has a market cap of $618.56 million, a PE ratio of 2,640.64 and a beta of 1.75.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MRAM shares. Wall Street Zen downgraded Everspin Tech from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reissued a “sell (d+)” rating on shares of Everspin Tech in a research report on Friday, March 27th. Finally, Needham & Company LLC raised their price target on Everspin Tech from $14.00 to $18.50 and gave the stock a “buy” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $18.50.

Insiders Place Their Bets

In other Everspin Tech news, Director Geoffrey G. Ribar sold 27,488 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $28.87, for a total value of $793,578.56. Following the completion of the sale, the director directly owned 94,063 shares of the company’s stock, valued at $2,715,598.81. This trade represents a 22.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Glen Hawk sold 48,563 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $37.95, for a total value of $1,842,965.85. Following the completion of the sale, the director directly owned 39,551 shares of the company’s stock, valued at $1,500,960.45. This represents a 55.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 176,499 shares of company stock valued at $5,032,220. Company insiders own 6.30% of the company’s stock.

Institutional Investors Weigh In On Everspin Tech

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

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.