Shares of GSI Technology Inc. GSIT, +1.35%, a loss-making semiconductor company that has been attracting meme-like attention, rose 5.1% in premarket trades Friday. The stock ended Thursday’s session up 35.8% at a new 18-month high of $5.92 on trading volume of 18.6 million shares, above its 65-day average of 3.6 million shares. On Tuesday GSI Technology reported a fourth-quarter net loss of $4 million, compared with a net loss of $3 million in the same period last year. The company has reported a net loss for more than a dozen straight quarters. GSI Technology reported revenue of $5.4 million, down from $8.7 million in the same period last year, but within the company’s guidance range. The company has a market cap of $146.1 million, FactSet data show. According to a GSI Technology filing with the SEC Monday, Orin Hirschman, managing member of Maryland-based AIGH Capital Management, has taken an 8.1% stake in the semiconductor specialist. AIGH Capital Management has $271.3 million in managed securities, according to a separate SEC filing Monday. As of March 31, 2023 the majority of AIGH Capital Management’s holdings were in healthcare and tech, according to Nasdaq data.
This article was originally published by Marketwatch.com. Read the original article here.
