GigaMedia Limited (NASDAQ:GIGM) Short Interest Update

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

Hedge Funds Weigh In On GigaMedia

An institutional investor recently raised its stake in GigaMedia stock. Osaic Holdings Inc. lifted its stake in shares of GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,233 shares of the technology company’s stock after buying an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned about 1.53% of GigaMedia worth $242,000 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 down $0.00 on Monday, hitting $1.47. 12,573 shares of the company’s stock were exchanged, compared to its average volume of 6,375. The firm’s 50-day moving average is $1.42 and its 200 day moving average is $1.46. The company has a market capitalization of $16.29 million, a PE ratio of -8.19 and a beta of 0.49. GigaMedia has a 1-year low of $1.29 and a 1-year high of $1.89.

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

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 investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently 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.