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

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 4,092 shares, a decline of 53.5% from the July 15th total of 8,797 shares. Based on an average daily volume of 5,860 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.0% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of GigaMedia from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

GigaMedia Stock Performance

Shares of GigaMedia stock traded down $0.03 during midday trading on Friday, reaching $1.49. 20,328 shares of the company’s stock traded hands, compared to its average volume of 6,201. The stock has a 50 day moving average of $1.42 and a 200-day moving average of $1.46. GigaMedia has a 12 month low of $1.29 and a 12 month high of $1.89. The company has a market cap of $16.41 million, a PE ratio of -8.25 and a beta of 0.49.

GigaMedia (NASDAQ:GIGM) last issued its quarterly earnings data on Friday, July 31st. The technology company reported $0.05 earnings per share (EPS) for the quarter. GigaMedia had a negative net margin of 43.36% and a negative return on equity of 5.36%. The business had revenue of $2.13 million for the quarter.

Institutional Trading of GigaMedia

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

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.