GSI Technology, Inc. (NASDAQ:GSIT) Sees Large Decrease in Short Interest

GSI Technology, Inc. (NASDAQ:GSIT - Get Free Report) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 391,800 shares, a decline of 54.6% from the April 30th total of 863,900 shares. Based on an average daily volume of 222,800 shares, the short-interest ratio is presently 1.8 days. Approximately 2.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ethos Financial Group LLC purchased a new stake in GSI Technology during the 4th quarter valued at $31,000. Two Sigma Advisers LP bought a new position in shares of GSI Technology during the fourth quarter valued at about $33,000. Barclays PLC purchased a new stake in shares of GSI Technology during the fourth quarter worth about $39,000. Essex Investment Management Co. LLC purchased a new stake in shares of GSI Technology during the first quarter worth about $69,000. Finally, WealthPlan Investment Management LLC bought a new stake in shares of GSI Technology in the fourth quarter worth about $114,000. Institutional investors own 33.15% of the company's stock.

GSI Technology Stock Up 4.5%

Shares of GSI Technology stock traded up $0.14 during trading on Tuesday, hitting $3.28. 373,668 shares of the stock traded hands, compared to its average volume of 553,186. The stock has a market cap of $83.97 million, a price-to-earnings ratio of -6.56 and a beta of 1.13. GSI Technology has a 52 week low of $1.62 and a 52 week high of $4.90. The firm's fifty day moving average is $2.88 and its 200-day moving average is $2.94.

GSI Technology (NASDAQ:GSIT - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $5.88 million for the quarter. GSI Technology had a negative return on equity of 50.33% 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.