GigaMedia Limited (NASDAQ:GIGM) Short Interest Down 81.1% in April

GigaMedia Limited (NASDAQ:GIGM) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 342 shares, a drop of 81.1% from the April 15th total of 1,810 shares. Based on an average daily volume of 4,882 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Institutional Trading of GigaMedia

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

GigaMedia Stock Performance

Shares of NASDAQ GIGM traded up $0.05 during mid-day trading on Wednesday, reaching $1.48. The company had a trading volume of 14,098 shares, compared to its average volume of 7,494. GigaMedia has a one year low of $1.29 and a one year high of $1.89. The firm has a market cap of $16.35 million, a price-to-earnings ratio of -9.87 and a beta of 0.48. The business’s 50-day simple moving average is $1.45 and its 200 day simple moving average is $1.50.

GigaMedia (NASDAQ:GIGM) last issued its quarterly earnings results on Monday, May 4th. The technology company reported ($0.08) EPS for the quarter. GigaMedia had a negative return on equity of 4.52% and a negative net margin of 50.86%.The company had revenue of $0.75 million during the quarter.

Analysts Set New Price Targets

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

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.