Short Interest in GigaMedia Limited (NASDAQ:GIGM) Drops By 35.3%

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 2,649 shares, a decline of 35.3% from the July 30th total of 4,092 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 7,691 shares, the short-interest ratio is presently 0.3 days.

GigaMedia Trading Down 3.8%

Shares of GIGM traded down $0.06 during mid-day trading on Tuesday, hitting $1.41. 5,878 shares of the company traded hands, compared to its average volume of 5,740. The stock has a market capitalization of $15.58 million, a price-to-earnings ratio of -7.83 and a beta of 0.49. The business has a 50-day moving average of $1.42 and a 200 day moving average of $1.45. GigaMedia has a one year low of $1.29 and a one year high of $1.89.

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

Hedge Funds Weigh In On GigaMedia

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of GigaMedia from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, According to MarketBeat, GigaMedia currently has a consensus rating of “Sell”.

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.