GigaMedia (NASDAQ:GIGM) Share Price Breaks Above Fifty Day Moving Average – Time to Sell?

Shares of GigaMedia Limited (NASDAQ:GIGM) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $1.35 and traded as high as $1.45. GigaMedia shares last traded at $1.41, with a volume of 95,551 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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 data from MarketBeat.com, the stock presently has an average rating of “Sell”.

GigaMedia Trading Up 14.6%

The firm has a market capitalization of $15.58 million, a PE ratio of 17.63 and a beta of 0.44. The business’s 50 day simple moving average is $1.35 and its 200 day simple moving average is $1.43.

GigaMedia (NASDAQ:GIGM) last announced its earnings results on Friday, October 30th. The technology company reported $0.17 earnings per share for the quarter. GigaMedia had a negative net margin of 43.36% and a negative return on equity of 5.36%. The business had revenue of $3.16 million for the quarter.

About GigaMedia

GigaMedia Limited (NASDAQ: GIGM) is an online games and entertainment company focused primarily on markets in Greater China and Southeast Asia. Through its online entertainment platforms, the company provides casual and social games, including mahjong, poker, card and other multiplayer titles designed for play on computers and mobile devices.

The company operates the FunTown brand, which has historically served users in Taiwan and other Asian markets. Its services are generally supported by digital distribution and online platform features, including account management, virtual goods and other forms of in-game entertainment.

GigaMedia was founded in 1998 and initially developed telecommunications and broadband-related businesses in Taiwan before transitioning toward online games and entertainment.