GigaMedia Limited (NASDAQ:GIGM) Sees Significant Increase in Short Interest

GigaMedia Limited (NASDAQ:GIGM) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 6,263 shares, a growth of 1,731.3% from the April 30th total of 342 shares. Based on an average daily trading volume, of 10,644 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.1% of the shares of the company are short sold.

GigaMedia Price Performance

GIGM stock traded down $0.02 on Wednesday, reaching $1.47. The company’s stock had a trading volume of 7,037 shares, compared to its average volume of 7,695. GigaMedia has a 52 week low of $1.29 and a 52 week high of $1.89. The company has a market capitalization of $16.27 million, a P/E ratio of -9.81 and a beta of 0.48. The firm has a fifty day moving average of $1.43 and a two-hundred day moving average of $1.49.

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

Hedge Funds Weigh In On GigaMedia

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. raised its position in shares of GigaMedia Limited (NASDAQ:GIGM) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 189,871 shares of the technology company’s stock after purchasing an additional 16,138 shares during the quarter. Osaic Holdings Inc. owned about 1.72% of GigaMedia worth $283,000 as of its most recent SEC filing. 13.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of GigaMedia in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, Based on data from 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.