Short Interest in GigaMedia Limited (NASDAQ:GIGM) Grows By 34.2%

GigaMedia Limited (NASDAQ:GIGM) saw a large increase in short interest during the month of August. As of August 15th, there was short interest totaling 40,800 shares, an increase of 34.2% from the July 31st total of 30,400 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 14,700 shares, the short-interest ratio is presently 2.8 days. Based on an average trading volume of 14,700 shares, the short-interest ratio is presently 2.8 days. Approximately 0.7% of the shares of the stock are sold short.

GigaMedia Price Performance

Shares of GigaMedia stock opened at $1.69 on Wednesday. The business has a 50-day moving average of $1.50 and a 200 day moving average of $1.52. The stock has a market capitalization of $18.62 million, a price-to-earnings ratio of -33.70 and a beta of 0.33. GigaMedia has a 12 month low of $1.30 and a 12 month high of $1.80.

GigaMedia (NASDAQ:GIGM) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $0.08 earnings per share for the quarter. The company had revenue of $0.87 million for the quarter. GigaMedia had a negative net margin of 19.50% and a negative return on equity of 1.57%.

Analysts Set New Price Targets

Separately, Wall Street Zen started coverage on shares of GigaMedia in a report on Wednesday, May 21st. They issued a “sell” rating on the stock.

Hedge Funds Weigh In On GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. grew its stake in shares of GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 169,233 shares of the technology company’s stock after buying an additional 38,521 shares during the period. Osaic Holdings Inc. owned 1.53% of GigaMedia worth $242,000 as of its most recent SEC filing. Institutional investors own 13.50% of the company’s stock.

About GigaMedia

GigaMedia Limited, together with its subsidiaries, provides digital entertainment services in Taiwan, Hong Kong, and Macau. The company owns and operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games, as well as provides services such as player clubs, tournaments, avatars, friends and family messenger and online chatting systems, customer service, mobile platform, and customer platform.