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

GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 1,140,000 shares, an increase of 146.1% from the January 15th total of 463,200 shares. Approximately 6.0% of the company's stock are short sold. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analyst Weigh In

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

GSI Technology Price Performance

GSIT traded up $0.05 during trading hours on Friday, reaching $3.46. 320,697 shares of the stock traded hands, compared to its average volume of 4,890,358. The firm's fifty day simple moving average is $3.07 and its two-hundred day simple moving average is $3.01. The company has a market cap of $88.58 million, a price-to-earnings ratio of -6.92 and a beta of 0.98. GSI Technology has a fifty-two week low of $2.01 and a fifty-two week high of $6.02.

GSI Technology (NASDAQ:GSIT - Get Free Report) last released 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 48.28%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GSIT. Geode Capital Management LLC boosted its stake in GSI Technology by 19.0% during the 3rd quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company's stock valued at $626,000 after acquiring an additional 32,711 shares during the last quarter. Silverberg Bernstein Capital Management LLC boosted its stake 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 valued at $1,460,000 after acquiring an additional 9,831 shares during the last quarter. WealthPlan Investment Management LLC bought a new position in GSI Technology during the 4th quarter valued at $114,000. Ethos Financial Group LLC bought a new position in GSI Technology during the 4th quarter valued at $31,000. Finally, Barclays PLC bought a new position in GSI Technology during the 4th quarter valued at $39,000. 33.15% of the stock is currently owned by institutional investors.

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.