Short Interest in GSI Technology, Inc. (NASDAQ:GSIT) Drops By 20.6%

GSI Technology, Inc. (NASDAQ:GSIT) was the recipient of a large drop in short interest in 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. Currently, 4.3% of the company’s shares are sold short. Based on an average trading volume of 1,640,000 shares, the short-interest ratio is currently 0.5 days.

Hedge Funds Weigh In On GSI Technology

Several institutional investors have recently made changes to their positions in the stock. Ethos Financial Group LLC acquired a new position in shares of GSI Technology during the fourth quarter worth approximately $31,000. Two Sigma Advisers LP bought a new stake in GSI Technology during the 4th quarter valued at $33,000. Barclays PLC acquired a new position in GSI Technology during the fourth quarter worth $39,000. WealthPlan Investment Management LLC acquired a new position in GSI Technology during the fourth quarter worth $114,000. Finally, Northern Trust Corp lifted its stake in shares of GSI Technology by 30.7% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 33.15% of the company’s stock.

GSI Technology Stock Performance

Shares of GSIT opened at $2.60 on Monday. The firm has a market cap of $66.57 million, a PE ratio of -5.20 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 business’s 50 day moving average price is $3.05 and its two-hundred day moving average price is $3.07.

GSI Technology (NASDAQ:GSIT) last released its quarterly earnings data 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 50.33%.

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.