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

GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) saw a significant drop in short interest during the month of 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. Approximately 4.3% of the company's stock are short sold. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is presently 0.5 days.

GSI Technology Stock Down 1.6 %

Shares of GSIT traded down $0.04 during trading hours on Friday, reaching $2.47. 75,072 shares of the company traded hands, compared to its average volume of 591,888. The business has a fifty day moving average price of $3.00 and a 200-day moving average price of $3.06. GSI Technology has a 12-month low of $2.01 and a 12-month high of $6.02. The stock has a market capitalization of $63.24 million, a P/E ratio of -4.94 and a beta of 0.91.

GSI Technology (NASDAQ:GSIT - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The semiconductor company reported ($0.16) earnings per share for the quarter. GSI Technology had a negative net margin of 64.33% and a negative return on equity of 50.33%.

Hedge Funds Weigh In On GSI Technology

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of GSI Technology by 19.0% in the third quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company's stock worth $626,000 after acquiring an additional 32,711 shares during the period. Silverberg Bernstein Capital Management LLC grew its position in GSI Technology by 2.1% during the 4th quarter. Silverberg Bernstein Capital Management LLC now owns 481,817 shares of the semiconductor company's stock worth $1,460,000 after purchasing an additional 9,831 shares during the period. WealthPlan Investment Management LLC acquired a new stake in GSI Technology during the 4th quarter worth about $114,000. Ethos Financial Group LLC purchased a new position in shares of GSI Technology during the 4th quarter valued at about $31,000. Finally, Barclays PLC acquired a new position in shares of GSI Technology in the 4th quarter valued at about $39,000. 33.15% of the stock is owned by hedge funds and other institutional investors.

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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.