Short Interest in OnChip Technologies, Inc. (NASDAQ:ONCH) Expands By 8,200.0%

OnChip Technologies, Inc. (NASDAQ:ONCH) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 10,541 shares, an increase of 8,200.0% from the May 14th total of 127 shares. Based on an average daily volume of 17,316 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of OnChip Technologies in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, OnChip Technologies presently has an average rating of “Sell”.

OnChip Technologies Stock Up 0.1%

Shares of NASDAQ ONCH traded up $0.01 during midday trading on Tuesday, reaching $10.23. 4,034 shares of the company’s stock were exchanged, compared to its average volume of 50,114. The business’s fifty day moving average price is $10.19 and its two-hundred day moving average price is $10.21. OnChip Technologies has a 52-week low of $10.13 and a 52-week high of $10.63.

OnChip Technologies (NASDAQ:ONCH) last released its quarterly earnings results on Friday, March 27th. The company reported $0.09 earnings per share for the quarter.

OnChip Technologies, Inc (NASDAQ:ONCH) is a fabless semiconductor company specializing in edge-based voice and audio processing solutions. The company develops digital signal processing (DSP) intellectual property cores and accompanying software frameworks designed to enable low-power, always-listening voice interfaces and advanced audio features. By integrating custom DSP hardware blocks with optimized software, OnChip enables functionalities such as keyword spotting, noise reduction, echo cancellation and far-field voice capture in compact system-on-chip (SoC) designs.

OnChip’s product portfolio consists of licensable DSP IP blocks, software development kits (SDKs) and turnkey reference designs that original equipment manufacturers (OEMs) and semiconductor partners can embed directly into consumer electronics, automotive infotainment systems, smart home devices and industrial automation platforms.