Integrated Media Technology Limited (NASDAQ:IMTE) Short Interest Update

Integrated Media Technology Limited (NASDAQ:IMTE) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 603,448 shares, an increase of 1,367.8% from the February 12th total of 41,113 shares. Based on an average daily trading volume, of 1,352,095 shares, the days-to-cover ratio is presently 0.4 days. Approximately 17.9% of the company’s shares are short sold. Approximately 17.9% of the company’s shares are short sold. Based on an average daily trading volume, of 1,352,095 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Integrated Media Technology in a report on Tuesday, February 3rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Integrated Media Technology currently has an average rating of “Sell”.

Integrated Media Technology Stock Up 2.3%

Shares of NASDAQ:IMTE traded up $0.01 during midday trading on Tuesday, reaching $0.62. 14,855 shares of the company’s stock were exchanged, compared to its average volume of 670,952. Integrated Media Technology has a fifty-two week low of $0.50 and a fifty-two week high of $3.17. The firm’s 50 day simple moving average is $0.67 and its two-hundred day simple moving average is $0.82.

Integrated Media Technology (NASDAQ:IMTE) last posted its earnings results on Tuesday, February 10th. The company reported ($0.08) earnings per share for the quarter. The company had revenue of $0.03 million for the quarter.

Integrated Media Technology Company Profile

Integrated Media Technology (NASDAQ: IMTE) is a semiconductor company specializing in digital audio processing solutions for consumer electronics, telecommunications equipment and professional audio applications. The company’s core business revolves around the design, development and sale of digital signal processing (DSP) chips, audio modules and accompanying firmware and software algorithms. Its product portfolio includes high-performance audio codecs, multi-channel DSP cores, noise reduction and echo cancellation engines, all tailored to enhance audio quality in smart speakers, soundbars, televisions, set-top boxes and conferencing devices.

In addition to standalone chips, Integrated Media Technology offers turnkey hardware modules that integrate its DSP IP with analog-to-digital converters (ADCs), digital-to-analog converters (DACs) and power management subsystems.