OnChip Technologies, Inc. (NASDAQ:ONCH) Short Interest Down 57.9% in June

OnChip Technologies, Inc. (NASDAQ:ONCH) was the target of a large decrease in short interest in June. As of June 15th, there was short interest totaling 4,437 shares, a decrease of 57.9% from the May 31st total of 10,541 shares. Based on an average daily volume of 1,876 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of OnChip Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, OnChip Technologies presently has a consensus rating of “Sell”.

OnChip Technologies Stock Performance

Shares of ONCH stock traded up $0.03 during mid-day trading on Wednesday, reaching $10.28. 12,152 shares of the company’s stock traded hands, compared to its average volume of 46,177. 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 price is $10.22 and its 200-day moving average price is $10.20.

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