Short Interest in GSI Technology, Inc. (NASDAQ:GSIT) Rises By 10.2%

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

Hedge Funds Weigh In On GSI Technology

Large investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of GSI Technology during the first quarter worth $135,000. Silverberg Bernstein Capital Management LLC grew its holdings in shares of GSI Technology by 2.8% in the second quarter. Silverberg Bernstein Capital Management LLC now owns 465,974 shares of the semiconductor company’s stock worth $1,235,000 after purchasing an additional 12,843 shares during the last quarter. Thompson Davis & CO. Inc. bought a new position in shares of GSI Technology in the first quarter worth about $42,000. Viawealth LLC lifted its holdings in 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 buying an additional 10,550 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in GSI Technology by 42.3% in the 2nd quarter. American Century Companies Inc. now owns 19,827 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 5,890 shares during the period. Hedge funds and other institutional investors own 33.15% of the company’s stock.

GSI Technology Price Performance

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

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

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded GSI Technology from a “hold” rating to a “sell” rating in a research 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.