Short Interest in GigaMedia Limited (NASDAQ:GIGM) Drops By 88.8%

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 165 shares, a drop of 88.8% from the December 31st total of 1,475 shares. Based on an average daily volume of 10,112 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 10,112 shares, the days-to-cover ratio is presently 0.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GigaMedia in a research report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. grew its stake in GigaMedia Limited (NASDAQ:GIGM) by 29.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,233 shares of the technology company’s stock after purchasing an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned approximately 1.53% of GigaMedia worth $242,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.50% of the company’s stock.

GigaMedia Stock Performance

Shares of GIGM traded down $0.02 during trading hours on Wednesday, hitting $1.47. The stock had a trading volume of 1,304 shares, compared to its average volume of 7,917. The company’s fifty day simple moving average is $1.50 and its 200 day simple moving average is $1.56. GigaMedia has a 12-month low of $1.38 and a 12-month high of $1.89. The firm has a market cap of $16.24 million, a P/E ratio of -13.36 and a beta of 0.41.

GigaMedia (NASDAQ:GIGM) last announced its earnings results on Thursday, October 30th. The technology company reported ($0.09) earnings per share for the quarter. The firm had revenue of $0.92 million for the quarter. GigaMedia had a negative net margin of 37.82% and a negative return on equity of 3.25%.

GigaMedia Company Profile

GigaMedia Limited (NASDAQ: GIGM) is a digital entertainment company that develops and operates online gaming platforms and value?added services. The company’s offerings encompass multiplayer online games, mobile titles, and interactive entertainment that cater to both casual and core gaming audiences. Through its proprietary platform architecture, GigaMedia delivers content that ranges from fantasy role?playing adventures to strategy and social games.

In addition to game development and publishing, GigaMedia provides a suite of complementary services designed to enhance user engagement and monetization.