GSI Technology Inc. (NASDAQ:GSIT) shares, rose in value on Thursday, 05/25/23, with the stock price up by 9.88% to the previous day’s close as strong demand from buyers drove the stock to $5.67.
Actively observing the price movement in the last trading, the stock closed the session at $5.16, falling within a range of $5.13 and $6.50. The value of beta (5-year monthly) was 0.93. Referring to stock’s 52-week performance, its high was $7.30, and the low was $1.45. On the whole, GSIT has fluctuated by 278.00% over the past month.
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With the market capitalization of GSI Technology Inc. currently standing at about $138.06 million, investors are eagerly awaiting this quarter’s results, scheduled for Jul 26, 2023 – Jul 31, 2023.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that GSIT’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
1 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 1 analyst(s), 0 recommend it as a Buy and 0 called the GSIT stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GSIT currently trading nearly 73.86% and 144.58% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 70.69, while the 7-day volatility ratio is showing 20.56% which for the 30-day chart, stands at 26.15%. Furthermore, GSI Technology Inc. (GSIT)’s beta value is 0.55, and its average true range (ATR) is 0.85. The company’s stock has been forecasted to trade at an average price of $8.00 over the course of the next 52 weeks, with a low of $8.00 and a high of $8.00. Based on these price targets, the low is -41.09% off current price, whereas the price has to move -41.09% to reach the yearly target high. Additionally, analysts’ median price of $8.00 is likely to be welcomed by investors because it represents a decrease of -41.09% from the current levels.
A comparison of GSI Technology Inc. (GSIT) with its peers suggests the former has fared considerably weaker in the market. GSIT showed an intraday change of 9.88% in last session, and over the past year, it grew by 59.72%%. In comparison, Peraso Inc. (PRSO) has moved higher at 20.99% on the day and was down -69.37% over the past 12 months. On the other hand, the price of Micron Technology Inc. (MU) has risen 4.63% on the day. The stock, however, is off 4.49% from where it was a year ago. Additionally, there is a gain of 10.31% for Rambus Inc. (RMBS) in last trading while the stock has seen an overall depriciation of 168.19%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it gained 0.88%. Meanwhile, the Dow Jones Industrial Slipped by -0.11%.
Data on historical trading for GSI Technology Inc. (NASDAQ:GSIT) indicates that the trading volumes over the past 10 days have averaged 26.09 million and over the past 3 months, they’ve averaged 4.25 million. According to company’s latest data on outstanding shares, there are 24.62 million shares outstanding.
Nearly 30.96% of GSI Technology Inc.’s shares belong to company insiders and institutional investors own 22.20% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.17 million shares as on May 14, 2023, resulting in a short ratio of 0.02. According to the data, the short interest in GSI Technology Inc. (GSIT) stood at 0.70% of shares outstanding as of May 14, 2023; the number of short shares registered in Apr 13, 2023 reached 0.27 million. The stock has risen by 227.75% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GSIT stock heading into the next quarter.