Short Interest in GSI Technology, Inc. (NASDAQ:GSIT) Increases By 146.1%

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

Analyst Upgrades and Downgrades

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

GSI Technology Stock Up 4.7 %

Shares of NASDAQ:GSIT opened at $3.33 on Thursday. The company has a market cap of $84.87 million, a P/E ratio of -6.66 and a beta of 0.98. GSI Technology has a 52 week low of $2.01 and a 52 week high of $6.02. The company has a 50-day moving average price of $3.05 and a 200 day moving average price of $3.00.

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

Institutional Investors Weigh In On GSI Technology

A number of hedge funds have recently added to or reduced their stakes in GSIT. Geode Capital Management LLC lifted its position in GSI Technology by 19.0% in the third 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. Silverberg Bernstein Capital Management LLC increased its holdings in GSI Technology by 2.1% in 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 in the last quarter. WealthPlan Investment Management LLC purchased a new position in GSI Technology in the fourth quarter valued at about $114,000. Finally, Ethos Financial Group LLC purchased a new position in GSI Technology in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 33.15% of the company’s stock.

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.