OnChip Technologies, Inc. (NASDAQ:ONCH) Sees Large Increase in Short Interest

OnChip Technologies, Inc. (NASDAQ:ONCH) was the target of a significant growth in short interest in the month of 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 Up 0.1%

ONCH stock opened at $10.23 on Wednesday. The firm’s fifty day simple moving average is $10.19 and its 200-day simple moving average is $10.21. OnChip Technologies has a 12 month low of $10.13 and a 12 month high of $10.63.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of OnChip Technologies in a research note on Friday, May 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus 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.