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

GSI Technology, Inc. (NASDAQ:GSIT) was the target of a large 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 shares are short sold. Based on an average trading volume of 1,640,000 shares, the short-interest ratio is currently 0.5 days.

GSI Technology Price Performance

GSI Technology stock traded down $0.12 during trading hours on Tuesday, reaching $2.56. The stock had a trading volume of 47,645 shares, compared to its average volume of 595,472. The stock has a market cap of $65.54 million, a PE ratio of -5.12 and a beta of 0.91. GSI Technology has a 52 week low of $2.01 and a 52 week high of $6.02. The company has a fifty day simple moving average of $3.02 and a 200-day simple moving average of $3.07.

GSI Technology (NASDAQ:GSIT) last announced its quarterly earnings results 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 50.33% and a negative net margin of 64.33%.

Hedge Funds Weigh In On GSI Technology

Several hedge funds and other institutional investors have recently modified their holdings of GSIT. Geode Capital Management LLC increased its position in shares of GSI Technology by 19.0% during the third quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock valued at $626,000 after buying an additional 32,711 shares during the period. Silverberg Bernstein Capital Management LLC increased its position in shares of GSI Technology by 2.1% during the fourth quarter. Silverberg Bernstein Capital Management LLC now owns 481,817 shares of the semiconductor company’s stock valued at $1,460,000 after buying an additional 9,831 shares during the period. WealthPlan Investment Management LLC purchased a new position in shares of GSI Technology during the fourth quarter valued at about $114,000. Ethos Financial Group LLC purchased a new position in shares of GSI Technology during the fourth quarter valued at about $31,000. Finally, Barclays PLC purchased a new position in shares of GSI Technology during the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 33.15% of the company’s stock.

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.