StockNews.com Initiates Coverage on GigaMedia (NASDAQ:GIGM)

StockNews.com started coverage on shares of GigaMedia (NASDAQ:GIGM) in a research note issued on Wednesday. The brokerage set a “sell” rating on the technology company’s stock.

GigaMedia Stock Performance

Shares of GIGM stock opened at $1.75 on Wednesday. The stock’s fifty day simple moving average is $1.57 and its 200-day simple moving average is $1.49. The company has a market capitalization of $19.34 million, a price-to-earnings ratio of -4.86 and a beta of 0.39. GigaMedia has a 1-year low of $1.25 and a 1-year high of $1.80.

About GigaMedia

GigaMedia Limited, together with its subsidiaries, provides digital entertainment services in Taiwan, Hong Kong, and Macau. The company owns and operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games, as well as provides services such as player clubs, tournaments, avatars, friends and family messenger and online chatting systems, customer service, mobile platform, and customer platform.