Everspin Technologies Stock Is Trending Overnight: Here’s Why – Everspin Technologies (NASDAQ:MRAM)

Everspin Technologies Inc. (NASDAQ:MRAM) shares are trending on Thursday.

MRAM shares jumped 7.01% to $30.97 in Wednesday’s after-hours session.

The surge reverses a steep 8.76% regular-session decline that closed MRAM at $28.94, according to Benzinga Pro data.

CEO Books $2.8 Million On Option Sales

The move follows a Tuesday’s Securities and Exchange Commission filing, revealing President and CEO Sanjeev Aggarwal exercised and immediately sold 110,976 shares between May 15 and 18.

According to the SEC filing, Aggarwal acquired the shares via vested stock options at strike prices of $5.62–$8.17, at a total exercise cost of around $879,761.

He sold 8,784 shares at $40 on May 15, followed by the remaining 102,192 shares on May 18 in the $32 to $33.38 range, generating total gross proceeds of about $3.68 million and net proceeds of roughly $2.8 million from the spread.

What You Should Know

Separately, director Geoffrey Ribar and officer William Cooper each filed Form 144 notices on Thursday. Ribar proposed to sell 27,488 shares valued at approximately $793,548, while Cooper flagged plans to offload 10,000 shares worth approximately $291,278.

Form 144 is a mandatory SEC notice filed by corporate insiders planning to sell restricted or control stock, ensuring market transparency ahead of such transactions.

Form 144 filings came shortly after Kerrisdale Capital released a short report on May 19. The report valued MRAM at $14 per share, suggesting about 60% downside. Kerrisdale also said the stock’s gain of more than 300% in just a few weeks had pushed its valuation to roughly 10 times expected 2027 sales, which it argued was not in line with fundamentals.

Trading Metrics, Technical Analysis

The Relative Strength Index (RSI) of MRAM stands at 56.50.

With a market capitalization of $678.57 million, Everspin has a 52-week high of $51.50 and a low of $5.49.

Over the past 12 months, the small-cap semiconductor company has gained 386.39%.

Currently, the stock is positioned at about 51% above its 52-week low.

Benzinga’s Edge Stock Rankings indicate that MRAM stock has a positive price trend across all time frames.