GSI Technology (NASDAQ:GSIT) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• GSI Technology's stock price has recently surpassed its 200-day moving average, trading as high as $3.60 and closing at $3.50 with a trading volume of 271,478 shares.
• The company reported a negative EPS of ($0.08) during its latest quarterly earnings, accompanied by a negative net margin of 62.96% and a revenue of $6.28 million.
• Institutional investors own 33.15% of GSI Technology's stock, with notable increases in holdings from several firms, including Silverberg Bernstein Capital Management and Two Sigma Investments.

Shares of GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.24 and traded as high as $3.60. GSI Technology shares last traded at $3.50, with a volume of 271,478 shares changing hands.

GSI Technology Price Performance

The firm has a market cap of $96.00 million, a PE ratio of -6.11 and a beta of 1.23. The business has a 50-day moving average price of $3.89 and a two-hundred day moving average price of $3.24.

GSI Technology (NASDAQ:GSIT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The semiconductor company reported ($0.08) earnings per share for the quarter. GSI Technology had a negative net margin of 62.96% and a negative return on equity of 45.71%. The firm had revenue of $6.28 million during the quarter.

Insider Buying and Selling

In related news, VP Avidan Akerib sold 10,000 shares of GSI Technology stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $3.89, for a total transaction of $38,900.00. Following the completion of the sale, the vice president owned 23,307 shares in the company, valued at approximately $90,664.23. This trade represents a 30.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 25.40% of the company's stock.

Institutional Trading of GSI Technology

Hedge funds have recently added to or reduced their stakes in the business. Two Sigma Advisers LP acquired a new stake in GSI Technology in the 4th quarter worth about $33,000. Barclays PLC acquired a new position in shares of GSI Technology in the 4th quarter valued at about $39,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of GSI Technology in the 2nd quarter valued at about $55,000. U.S. Capital Wealth Advisors LLC acquired a new position in shares of GSI Technology in the 2nd quarter valued at about $55,000. Finally, Essex Investment Management Co. LLC acquired a new position in shares of GSI Technology in the 1st quarter valued at about $69,000. 33.15% of the stock is owned by institutional investors and hedge funds.

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.