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

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a significant growth in short interest in the month of October. As of October 15th, there was short interest totalling 537,700 shares, a growth of 10.2% from the September 30th total of 487,900 shares. Based on an average trading volume of 146,800 shares, the days-to-cover ratio is currently 3.7 days. Currently, 2.8% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Thompson Davis & CO. Inc. bought a new position in shares of GSI Technology in the first quarter worth about $42,000. American Century Companies Inc. boosted 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 worth $53,000 after purchasing an additional 5,890 shares during the period. Viawealth LLC raised its position in shares of GSI Technology by 82.4% during the 1st quarter. Viawealth LLC now owns 23,350 shares of the semiconductor company’s stock valued at $79,000 after purchasing an additional 10,550 shares during the period. Virtu Financial LLC purchased a new position in shares of GSI Technology during the 1st quarter valued at $135,000. Finally, Silverberg Bernstein Capital Management LLC lifted its stake in shares of GSI Technology by 2.8% during the 2nd quarter. Silverberg Bernstein Capital Management LLC now owns 465,974 shares of the semiconductor company’s stock valued at $1,235,000 after buying an additional 12,843 shares in the last quarter. 33.15% of the stock is currently owned by institutional investors.

GSI Technology Price Performance

Shares of GSIT traded down $0.03 during trading hours on Thursday, hitting $3.18. The stock had a trading volume of 202,641 shares, compared to its average volume of 292,960. The firm has a market capitalization of $80.92 million, a PE ratio of -5.30 and a beta of 0.95. GSI Technology has a 12 month low of $1.88 and a 12 month high of $6.02. The stock has a fifty day moving average price of $3.14 and a 200 day moving average price of $2.96.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings results on Thursday, October 24th. The semiconductor company reported ($0.21) EPS for the quarter. The business had revenue of $4.55 million for the quarter. GSI Technology had a negative net margin of 66.67% and a negative return on equity of 46.39%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of GSI Technology from a “hold” rating to a “sell” rating in a report on Monday.

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.