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

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 1,140,000 shares, a growth 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 currently 0.7 days. Approximately 6.0% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Silverberg Bernstein Capital Management LLC boosted its position in GSI Technology by 2.1% in 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 buying an additional 9,831 shares during the last quarter. Geode Capital Management LLC boosted its position in GSI Technology by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 208,723 shares of the semiconductor company’s stock valued at $633,000 after buying an additional 3,607 shares during the last quarter. Northern Trust Corp boosted its position in GSI Technology by 30.7% in the 4th quarter. Northern Trust Corp now owns 40,733 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 9,557 shares during the last quarter. WealthPlan Investment Management LLC bought a new position in GSI Technology in the 4th quarter valued at $114,000. Finally, Barclays PLC bought a new position in GSI Technology in the 4th quarter valued at $39,000. 33.15% of the stock is currently owned by institutional investors.

GSI Technology Price Performance

GSIT stock opened at $3.46 on Friday. The business has a fifty day moving average price of $3.07 and a 200 day moving average price of $3.00. GSI Technology has a fifty-two week low of $2.01 and a fifty-two week high of $6.02. The stock has a market capitalization of $88.20 million, a price-to-earnings ratio of -6.92 and a beta of 0.98.

GSI Technology (NASDAQ:GSIT) 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%.

Analysts Set New Price Targets

Separately, StockNews.com cut GSI Technology from a “hold” rating to a “sell” rating in a report on Monday, October 28th.

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.