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

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

OnChip Technologies Stock Performance

OnChip Technologies stock traded up $0.01 during mid-day trading on Tuesday, hitting $10.23. 4,034 shares of the company were exchanged, compared to its average volume of 50,114. OnChip Technologies has a 12-month low of $10.13 and a 12-month high of $10.63. The business’s 50 day simple moving average is $10.19 and its two-hundred day simple moving average is $10.21.

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

Analyst Upgrades and Downgrades

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