GigaMedia (NASDAQ:GIGM) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

GigaMedia Limited (NASDAQ:GIGM)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.57 and traded as high as $1.58. GigaMedia shares last traded at $1.5690, with a volume of 14,676 shares changing hands.

Analyst Ratings Changes

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

GigaMedia Trading Up 1.9%

The company has a market capitalization of $17.34 million, a PE ratio of -14.26 and a beta of 0.43. The stock’s 50-day moving average is $1.51 and its two-hundred day moving average is $1.57.

Institutional Trading of GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. raised its holdings in shares of GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 169,233 shares of the technology company’s stock after purchasing an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned 1.53% of GigaMedia worth $242,000 at the end of the most recent reporting period. 13.50% of the stock is owned by institutional investors.

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.