Gsi Technology Inc Down 13.69% To $2.08 After Earnings

Gsi Technology Inc (GSIT) said after close Thursday that it lost $0.16 per share in quarter two 2024. The company reported $5.7 million in revenue

In the same quarter a year ago, the company lost $0.13 per share on revenue of $9 million.

The stock is down 13.69% to $2.08 after the report.

Despite Gsi Technology Inc reporting a decline in revenues, earnings increased signaling a rise in profit margins.

Trading in the five days leading up to the report earned Gsi Technology Inc a Bearish Sentiment Rank from InvestorsObserver.

Gsi Technology Inc has performed a little below average during the past few months. Before the report, Gsi Technology Inc received a Long-Term Technical Rank by InvestorsObserver of 43, putting it in the bottom half of stocks. The firm set a 52-week high on June 16, 2023 at $9.8 and set a 52-week low on March 22, 2023 at $1.45.

Founded in 1995 GSI Technology Inc. is a leading provider of semiconductor memory solutions. GSIs resources are currently focused on bringing new products to market that leverage existing core strengths including radiation-hardened memory products for extreme environments and Gemini the APU designed to deliver performance advantages for diverse artificial intelligence applications. GSI Technology is headquartered in Sunnyvale California and has sales offices in the Americas Europe and Asia.