Everspin Technologies Inc (NASDAQ:MRAM) saw a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 458,900 shares, a drop of 11.9% from the September 30th total of 520,800 shares. Currently, 3.9% of the shares of the company are sold short. Based on an average daily trading volume, of 63,900 shares, the days-to-cover ratio is currently 7.2 days.

Institutional investors and hedge funds have recently made changes to their positions in the company. D.A. Davidson & CO. grew its stake in shares of Everspin Technologies by 233.3% in the 2nd quarter. D.A. Davidson & CO. now owns 50,000 shares of the business services provider’s stock worth $326,000 after purchasing an additional 35,000 shares during the last quarter. BlackRock Inc. grew its stake in shares of Everspin Technologies by 10.1% in the 2nd quarter. BlackRock Inc. now owns 249,676 shares of the business services provider’s stock worth $1,628,000 after purchasing an additional 22,803 shares during the last quarter. Handelsbanken Fonder AB grew its stake in shares of Everspin Technologies by 8.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 650,000 shares of the business services provider’s stock worth $3,984,000 after purchasing an additional 50,000 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Everspin Technologies by 19.8% in the 2nd quarter. Royal Bank of Canada now owns 289,330 shares of the business services provider’s stock worth $1,887,000 after purchasing an additional 47,749 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of Everspin Technologies by 53.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 56,596 shares of the business services provider’s stock worth $369,000 after purchasing an additional 19,791 shares during the last quarter. 39.94% of the stock is currently owned by institutional investors.

Shares of Everspin Technologies stock traded down $0.09 during trading hours on Friday, reaching $5.16. The company’s stock had a trading volume of 72,800 shares, compared to its average volume of 41,551. Everspin Technologies has a one year low of $5.01 and a one year high of $9.83. The stock has a market cap of $92.22 million, a P/E ratio of -4.78 and a beta of 2.16. The company’s 50 day simple moving average is $5.69 and its 200 day simple moving average is $6.50. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.61 and a current ratio of 3.58.

Everspin Technologies (NASDAQ:MRAM) last announced its quarterly earnings data on Thursday, November 7th. The business services provider reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.02). The business had revenue of $9.20 million during the quarter, compared to analyst estimates of $8.75 million. Everspin Technologies had a negative return on equity of 37.34% and a negative net margin of 19.30%. The business’s revenue for the quarter was down 20.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.33) EPS.

Separately, ValuEngine downgraded shares of Everspin Technologies from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th.

About Everspin Technologies

Everspin Technologies, Inc manufactures and sells magnetoresistive random access memory (MRAM) products to customers in the United States, Japan, China, Germany, Singapore, and internationally. It offers Toggle MRAM, spin-transfer torque MRAM, and embedded MRAM products, as well as magnetic sensors and aerospace and satellite electronic systems.

Further Reading: What is the Bid-Ask Spread?

Receive News & Ratings for Everspin Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Everspin Technologies and related companies with MarketBeat.com's FREE daily email newsletter.