Everspin Technologies Shares Drop Amid Short Report Concerns
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 19 2024
0mins
Everspin Technologies Inc (MRAM) shares rose 12.89% during regular trading, crossing above the 5-day SMA, but faced a significant drop in premarket trading following a short report from Kerrisdale Capital.
The short report raised concerns about Everspin's future performance, leading to an 11% decline in shares. Despite reporting a non-GAAP EPS of $0.11 for Q1 2026, beating expectations, and forecasting Q2 revenue between $15.5 million and $16.5 million, the bearish sentiment from the short report has overshadowed these positive indicators.
This volatility highlights the challenges Everspin faces in maintaining investor confidence amid market pressures and negative sentiment from analysts, which could impact its stock performance in the near term.
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Analyst Views on MRAM
Wall Street analysts forecast MRAM stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 31.260
Low
8.00
Averages
High
8.00
Current: 31.260
Low
8.00
Averages
High
8.00
About MRAM
Everspin Technologies, Inc. is a developer and manufacturer of magnetoresistive random access memory (MRAM) solutions. Its portfolio of MRAM technologies includes Toggle MRAM, Tunnel Magneto Resistance (TMR) Sensors, and Spin-transfer Torque MRAM (STT-MRAM). Toggle MRAM products are designed to address applications in the industrial, medical, automotive/transportation, and data center markets. It offers these products with industry standard interfaces, including Parallel, Serial Peripheral Interface (SPI) and Quad SPI (QSPI) interfaces. STT-MRAM technology can be tuned to deliver products in Dynamic Random Access Memory (DRAM), Static Random Access Memory (SRAM) and NOR Flash applications. TMR sensors provide high magnetic sensitivity in a single component that performs 3D magnetic field measurements in a monolithic solution. It sells its products directly and through its distribution channels, to original equipment manufacturers (OEMs) and original design manufacturers (ODMs).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Everspin Technologies Shares Drop 11% After Short Report
- Short Report Impact: Everspin Technologies (MRAM) shares fell 11% in premarket trading following a short report from Kerrisdale Capital, indicating market concerns about the company's future performance, which could undermine investor confidence.
- Short Interest Data: With a short interest of 3.9%, Everspin faces significant bearish sentiment in the market, potentially prompting more investors to exit in the short term, further exacerbating stock price volatility.
- Financial Performance Overview: Everspin reported a non-GAAP EPS of $0.11 for Q1 2026, beating expectations by $0.02, while revenue of $14.87 million exceeded forecasts by $0.27 million, demonstrating some financial resilience amid market pressures.
- Future Revenue Forecast: Everspin forecasts Q2 revenue between $15.5 million and $16.5 million and has signed a $40 million subcontract for 2.5 years, indicating proactive efforts in business expansion and revenue generation.
See More
Everspin Technologies Executive Sells Shares
- Executive Sell-off: On May 15, 2026, Everspin Technologies' Director Glen Hawk sold 48,563 shares for $1,843, indicating a cautious outlook on the company's future, which may impact investor confidence.
- Market Reaction: Such executive sell-offs typically raise concerns about the company's stock price, prompting investors to reassess Everspin's long-term growth potential, potentially leading to short-term price volatility.
- Shareholding Structure Change: Glen Hawk's sell-off may alter the internal shareholding structure, affecting management's influence on strategic decisions, which could impact corporate governance and future development directions.
- Investor Attention: As news of the executive sell-off spreads, investors may pay closer attention to Everspin's financial health and market performance, prompting the company to enhance transparency and communication efforts.
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- Everspin Technologies Overvalued: While Everspin Technologies is profitable, Cramer warns that its price-to-earnings ratio is at 90 times, advising investors to be careful, suggesting that market expectations for its future growth may be overly optimistic.
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- Everspin's Strong Performance: Everspin Technologies (MRAM) soared to $44.67 on Monday, driven by a strong Q1 earnings beat and a $40 million U.S. defense contract, with a remarkable 553% increase in stock price over the past year, showcasing the company's potential in the semiconductor sector.
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Everspin Technologies Shares Drop 11% After Short Report
- Short Report Impact: Everspin Technologies (MRAM) shares fell 11% in premarket trading following a short report from Kerrisdale Capital, indicating market concerns about the company's future performance, which could undermine investor confidence.
- Short Interest Data: With a short interest of 3.9%, Everspin faces significant bearish sentiment in the market, potentially prompting more investors to exit in the short term, further exacerbating stock price volatility.
- Financial Performance Overview: Everspin reported a non-GAAP EPS of $0.11 for Q1 2026, beating expectations by $0.02, while revenue of $14.87 million exceeded forecasts by $0.27 million, demonstrating some financial resilience amid market pressures.
- Future Revenue Forecast: Everspin forecasts Q2 revenue between $15.5 million and $16.5 million and has signed a $40 million subcontract for 2.5 years, indicating proactive efforts in business expansion and revenue generation.
See More
Everspin Technologies Executive Sells Shares
- Executive Sell-off: On May 15, 2026, Everspin Technologies' Director Glen Hawk sold 48,563 shares for $1,843, indicating a cautious outlook on the company's future, which may impact investor confidence.
- Market Reaction: Such executive sell-offs typically raise concerns about the company's stock price, prompting investors to reassess Everspin's long-term growth potential, potentially leading to short-term price volatility.
- Shareholding Structure Change: Glen Hawk's sell-off may alter the internal shareholding structure, affecting management's influence on strategic decisions, which could impact corporate governance and future development directions.
- Investor Attention: As news of the executive sell-off spreads, investors may pay closer attention to Everspin's financial health and market performance, prompting the company to enhance transparency and communication efforts.
See More
Jim Cramer Expresses Negative Views on Multiple Companies
- Purecycle Technologies Struggles: Jim Cramer highlights that Purecycle Technologies has almost no revenue and is losing a fortune, suggesting investors should avoid this stock, indicating its unfavorable market perception.
- High Risk for Energy Vault Holdings: Cramer describes Energy Vault Holdings as a pure speculative stock that is also losing a fortune, implying its investment value is extremely low and investors should exercise caution.
- Everspin Technologies Overvalued: While Everspin Technologies is profitable, Cramer warns that its price-to-earnings ratio is at 90 times, advising investors to be careful, suggesting that market expectations for its future growth may be overly optimistic.
- Challenges for Rocket Companies: Cramer expresses a negative view on Rocket Companies, stating that even if Kevin Warsh might cut rates, the rising oil prices causing inflation make such cuts unlikely, indicating significant pressure on the company's future prospects.
See More
Investor Perspectives on Silicon Motion and BillionToOne
- Silicon Motion Outlook: Investors express a positive outlook on Silicon Motion Technology (SIMO), with analysts recommending buying during pullbacks despite significant stock volatility, indicating confidence in its long-term growth potential.
- Wynn's Challenges: Wynn Resorts faces significant investment issues in the Gulf region, and while its stock performance has been strong, management indicates a need to observe developments before making decisions, reflecting a cautious approach to market uncertainties.
- Design Therapeutics Risks: Design Therapeutics is viewed as a high-risk investment, with investors needing to be aware of the potential for total loss, although the potential for doubling returns exists, highlighting the market's high uncertainty regarding its future performance.
- BillionToOne Investment Advice: BillionToOne is favored by investors, with analysts suggesting a buy, indicating optimism about its business model and growth prospects, which may attract more investor attention.
See More
US Semiconductor Stocks Hit New Highs
- Micron's Surge: Micron Technology (MU) stock hit $818.67 on Monday, extending a six-week gain, reflecting strong investor confidence in AI-driven memory demand creating a semiconductor 'supercycle,' with a staggering 761% increase over the past 12 months.
- Intel's Optimism: Intel Corp. (INTC) shares reached $132.75 on Monday, buoyed by reports of a preliminary agreement with Apple to manufacture chips, marking a breakthrough in Intel's foundry ambitions, with a 480% rise in stock price over the last year.
- Everspin's Strong Performance: Everspin Technologies (MRAM) soared to $44.67 on Monday, driven by a strong Q1 earnings beat and a $40 million U.S. defense contract, with a remarkable 553% increase in stock price over the past year, showcasing the company's potential in the semiconductor sector.
- Market Sentiment Soars: Retail sentiment for all three companies on Stocktwits is in 'extremely bullish' territory, indicating that investor optimism surrounding memory chips and data center demand is driving a broader rally across the semiconductor industry.
See More
Trump Rejects Iran's Revised Proposal Amid Geopolitical Tensions
- Trump's Proposal Rejection: Trump labeled Iran's latest sanctions relief and uranium export proposal as 'totally unacceptable' on social media, potentially escalating tensions in the Middle East and impacting global market sentiment.
- Market Reaction: U.S. stock futures edged lower on Monday morning, with S&P 500 and Dow futures declining by 0.1% while Nasdaq futures remained flat, indicating investor caution ahead of upcoming economic data amid geopolitical developments.
- Chip Sector Momentum: Memory chip stocks like Micron (MU) and Everspin (MRAM) continued to dominate retail chatter, with Everspin's stock surging 35% in early trading, reflecting strong momentum in the AI infrastructure trade.
- Biotech Stocks in Focus: Biotech stocks such as Moderna (MRNA) and Novavax (NVAX) garnered attention, while MoonLake Immunotherapeutics (MLTX) trended high after a positive FDA meeting, showcasing investor confidence in new drug developments.
See More
