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

OnChip Technologies, Inc. (NASDAQ:ONCH) was the recipient of a significant increase in short interest in 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 trading volume of 17,316 shares, the days-to-cover ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

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

OnChip Technologies Price Performance

NASDAQ:ONCH opened at $10.24 on Thursday. OnChip Technologies has a 12 month low of $10.13 and a 12 month high of $10.63. The company’s 50 day moving average is $10.20 and its 200-day moving average is $10.21.

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