GSI Technology, Inc. (NASDAQ:GSIT) Sees Large Drop in Short Interest

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 825,400 shares, a drop of 20.6% from the February 13th total of 1,040,000 shares. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 4.3% of the shares of the stock are sold short.

Hedge Funds Weigh In On GSI Technology

A number of large investors have recently added to or reduced their stakes in GSIT. WealthPlan Investment Management LLC purchased a new position in GSI Technology in the 4th quarter worth $114,000. Geode Capital Management LLC raised its position 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 period. Barclays PLC purchased a new position in GSI Technology in the 4th quarter worth $39,000. Two Sigma Investments LP raised its position in GSI Technology by 19.0% in the 4th quarter. Two Sigma Investments LP now owns 69,960 shares of the semiconductor company’s stock worth $212,000 after purchasing an additional 11,149 shares during the period. Finally, Two Sigma Advisers LP purchased a new position in GSI Technology in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 33.15% of the company’s stock.

GSI Technology Trading Down 4.5 %

Shares of GSI Technology stock traded down $0.12 on Tuesday, hitting $2.56. 47,645 shares of the company traded hands, compared to its average volume of 595,472. The firm’s 50-day simple moving average is $3.02 and its 200 day simple moving average is $3.07. The company has a market cap of $65.54 million, a P/E ratio of -5.12 and a beta of 0.91. GSI Technology has a 12-month low of $2.01 and a 12-month high of $6.02.

GSI Technology (NASDAQ:GSIT) last issued its earnings results on Thursday, January 30th. The semiconductor company reported ($0.16) EPS for the quarter. GSI Technology had a negative return on equity of 50.33% and a negative net margin of 64.33%.

About GSI Technology

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.