GigaMedia Limited (NASDAQ:GIGM) Short Interest Up 1,731.3% in May

GigaMedia Limited (NASDAQ:GIGM) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 6,263 shares, a growth of 1,731.3% from the April 30th total of 342 shares. Based on an average trading volume of 10,644 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GigaMedia in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Institutional Trading of GigaMedia

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. raised its holdings in GigaMedia Limited (NASDAQ:GIGM) by 9.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 189,871 shares of the technology company’s stock after acquiring an additional 16,138 shares during the period. Osaic Holdings Inc. owned approximately 1.72% of GigaMedia worth $283,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 13.50% of the company’s stock.

GigaMedia Trading Down 0.7%

Shares of GigaMedia stock traded down $0.01 on Friday, reaching $1.46. The stock had a trading volume of 444 shares, compared to its average volume of 6,268. The business’s 50 day moving average is $1.43 and its two-hundred day moving average is $1.49. GigaMedia has a 1 year low of $1.29 and a 1 year high of $1.89. The company has a market cap of $16.13 million, a P/E ratio of -9.73 and a beta of 0.48.

GigaMedia (NASDAQ:GIGM) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.08) EPS for the quarter. The firm had revenue of $0.75 million during the quarter. GigaMedia had a negative net margin of 50.86% and a negative return on equity of 4.52%.

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.