GSI Technology (NASDAQ:GSIT) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

GSI Technology, Inc. (NASDAQ:GSIT)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.96 and traded as high as $3.25. GSI Technology shares last traded at $3.08, with a volume of 70,893 shares traded.

GSI Technology Stock Down 2.8%

The stock’s 50-day moving average is $3.17 and its 200 day moving average is $2.96. The stock has a market capitalization of $78.85 million, a PE ratio of -7.33 and a beta of 1.11.

GSI Technology (NASDAQ:GSIT) last posted its earnings results on Thursday, May 1st. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $5.88 million during the quarter. GSI Technology had a negative net margin of 51.85% and a negative return on equity of 44.97%.

Institutional Trading of GSI Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Ethos Financial Group LLC acquired a new stake in shares of GSI Technology in the fourth quarter worth $31,000. Two Sigma Advisers LP bought a new position in GSI Technology during the fourth quarter worth $33,000. Barclays PLC bought a new position in GSI Technology during the fourth quarter worth $39,000. Essex Investment Management Co. LLC bought a new position in GSI Technology during the first quarter worth $69,000. Finally, Jones Financial Companies Lllp bought a new position in GSI Technology during the first quarter worth $80,000. 33.15% of the stock is currently owned by institutional investors and hedge funds.

GSI Technology Company Profile

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.