GigaMedia Limited (NASDAQ:GIGM) Sees Large Growth in Short Interest

GigaMedia Limited (NASDAQ:GIGM) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 10,587 shares, a growth of 69.0% from the May 14th total of 6,263 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 5,052 shares, the days-to-cover ratio is presently 2.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GigaMedia in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. raised its position in shares of GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,233 shares of the technology company’s stock after acquiring 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. 13.50% of the stock is currently owned by institutional investors and hedge funds.

GigaMedia Price Performance

NASDAQ GIGM traded up $0.02 during trading hours on Tuesday, reaching $1.40. The company’s stock had a trading volume of 8,975 shares, compared to its average volume of 3,491. The firm has a market capitalization of $15.47 million, a price-to-earnings ratio of -9.33 and a beta of 0.49. GigaMedia has a 1-year low of $1.29 and a 1-year high of $1.89. The company’s 50-day moving average is $1.42 and its two-hundred day moving average is $1.48.

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

About GigaMedia

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.