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

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of GSI Technology

Hedge funds have recently added to or reduced their stakes in the business. Ethos Financial Group LLC acquired a new stake in shares of GSI Technology in the 4th quarter valued at about $31,000. Barclays PLC acquired a new stake in shares of GSI Technology in the 4th quarter valued at about $39,000. WealthPlan Investment Management LLC acquired a new stake in shares of GSI Technology in the 4th quarter valued at about $114,000. Northern Trust Corp raised its stake in shares of 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 purchasing an additional 9,557 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of GSI Technology by 19.0% in the 3rd quarter. Geode Capital Management LLC now owns 205,116 shares of the semiconductor company’s stock valued at $626,000 after purchasing an additional 32,711 shares during the period. Institutional investors and hedge funds own 33.15% of the company’s stock.

GSI Technology Trading Up 1.5 %

Shares of GSI Technology stock opened at $3.46 on Friday. The company has a market capitalization of $88.20 million, a PE ratio of -6.92 and a beta of 0.98. GSI Technology has a 12 month low of $2.01 and a 12 month high of $6.02. The stock’s fifty day simple moving average is $3.07 and its 200 day simple moving average is $3.00.

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

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.