OnChip Technologies, Inc. (NASDAQ:ONCH) Short Interest Down 59.3% in May

OnChip Technologies, Inc. (NASDAQ:ONCH) was the target of a large drop in short interest in May. As of May 15th, there was short interest totaling 127 shares, a drop of 59.3% from the April 30th total of 312 shares. Based on an average daily volume of 6,088 shares, the short-interest ratio is presently 0.0 days.

OnChip Technologies Stock Performance

Shares of ONCH stock traded down $0.02 on Monday, reaching $10.22. The stock had a trading volume of 1,704 shares, compared to its average volume of 52,098. OnChip Technologies has a 1 year low of $10.13 and a 1 year high of $10.63. The company has a 50 day simple moving average of $10.18 and a 200 day simple moving average of $10.21.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of OnChip Technologies in a report on Friday. One analyst has rated the stock with a Sell rating, According to MarketBeat, OnChip Technologies currently has an average rating of “Sell”.

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.