GSI Technology, Inc. (NASDAQ:GSIT) Short Interest Up 146.1% in January

GSI Technology, Inc. (NASDAQ:GSIT) was the target of a significant increase in short interest in the month of 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. Based on an average daily volume of 1,620,000 shares, the short-interest ratio is presently 0.7 days. Currently, 6.0% of the company’s shares are short sold.

GSI Technology Price Performance

Shares of GSIT stock opened at $3.46 on Friday. The company has a market capitalization of $88.20 million, a P/E ratio of -6.92 and a beta of 0.98. The company’s 50-day simple moving average is $3.07 and its two-hundred day simple moving average is $3.00. GSI Technology has a one year low of $2.01 and a one year high of $6.02.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings data on Thursday, January 30th. The semiconductor company reported ($0.16) earnings per share (EPS) for the quarter. GSI Technology had a negative return on equity of 48.28% and a negative net margin of 64.33%.

Institutional Trading of GSI Technology

Several institutional investors and hedge funds have recently made changes to their positions in GSIT. Ethos Financial Group LLC purchased a new position in GSI Technology during the 4th quarter valued at about $31,000. Barclays PLC bought a new position in shares of GSI Technology during the fourth quarter valued at approximately $39,000. WealthPlan Investment Management LLC bought a new position in GSI Technology in the fourth quarter worth approximately $114,000. Northern Trust Corp raised its stake in GSI Technology by 30.7% in the fourth quarter. Northern Trust Corp now owns 40,733 shares of the semiconductor company’s stock worth $123,000 after buying an additional 9,557 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in GSI Technology by 19.0% during the third quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock worth $626,000 after buying an additional 32,711 shares during the period. 33.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of GSI Technology from a “hold” rating to a “sell” rating in a research note on Monday, October 28th.

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.