GSI Technology Inc (NASDAQ: GSIT): Overvalued In Comparison To Others?

GSI Technology Inc (NASDAQ:GSIT) shares, rose in value, with the stock price up by 9.52% to the previous day’s close as strong demand from buyers drove the stock to $5.06.

Actively observing the price movement in the last trading, the stock closed the session at $4.62. The value of beta (5-year monthly) was 1.05. Referring to stock’s 52-week performance, its high was $9.80, and the low was $1.47. On the whole, GSIT has fluctuated by 31.77% over the past month.

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With the market capitalization of GSI Technology Inc currently standing at about $128.02 million, investors are eagerly awaiting this quarter’s results, scheduled for May 14, 2024 – May 20, 2024.

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 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of GSIT currently trading nearly 30.56% and 64.50% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 68.84, while the 7-day volatility ratio is showing 20.22% which for the 30-day chart, stands at 14.50%. Furthermore, GSI Technology Inc (GSIT)’s beta value is 0.99, and its average true range (ATR) is 0.54.

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 9.52% in last session, and over the past year, it grew by 194.19%%.

Data on historical trading for GSI Technology Inc (NASDAQ:GSIT) indicates that the trading volumes over the past 10 days have averaged 1.13 million and over the past 3 months, they’ve averaged 515.03K. According to company’s latest data on outstanding shares, there are 24.69 million shares outstanding.

Nearly 30.04% of GSI Technology Inc’s shares belong to company insiders and institutional investors own 17.11% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 0.92 million shares as on Mar 15, 2024, resulting in a short ratio of 1.33. According to the data, the short interest in GSI Technology Inc (GSIT) stood at 3.62% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 0.54 million. The stock has risen by 91.67% 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.