GSI Technology, Inc. (NASDAQ:GSIT) Short Interest Update

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totalling 369,000 shares, a decline of 36.2% from the December 15th total of 578,300 shares. Based on an average daily volume of 168,800 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.9% of the company’s stock are sold short.

GSI Technology Trading Up 43.6 %

NASDAQ GSIT traded up $1.20 during trading on Friday, reaching $3.95. The company’s stock had a trading volume of 87,593,395 shares, compared to its average volume of 8,165,706. The business has a 50-day moving average price of $2.96 and a 200-day moving average price of $2.95. GSI Technology has a 1-year low of $1.88 and a 1-year high of $6.02. The stock has a market capitalization of $100.69 million, a PE ratio of -6.58 and a beta of 0.98.

GSI Technology (NASDAQ:GSIT) last issued its quarterly earnings data on Thursday, October 24th. The semiconductor company reported ($0.21) earnings per share (EPS) for the quarter. The business had revenue of $4.55 million during the quarter. GSI Technology had a negative return on equity of 54.03% and a negative net margin of 77.71%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered GSI Technology from a “hold” rating to a “sell” rating in a report on Monday, October 28th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in GSI Technology by 19.0% in the 3rd quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock worth $626,000 after purchasing an additional 32,711 shares during the last quarter. Silverberg Bernstein Capital Management LLC raised its position in shares of GSI Technology by 2.1% in the fourth quarter. Silverberg Bernstein Capital Management LLC now owns 481,817 shares of the semiconductor company’s stock valued at $1,460,000 after purchasing an additional 9,831 shares during the period. Finally, American Century Companies Inc. raised its position in shares of GSI Technology by 42.3% in the second quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 5,890 shares during the period. Institutional investors and hedge funds own 33.15% of the company’s stock.

GSI Technology Company Profile

GSI Technology, Inc designs, develops, and markets semiconductor memory solutions to networking, industrial, medical, aerospace, and military customers in the United States, China, Singapore, Germany, the Netherlands, and internationally. It offers associative processing unit products, which are focuses on applications using similarity search in visual search queries for ecommerce, computer vision, drug discovery, cyber security, and service markets.