Integrated Media Technology Limited (NASDAQ:IMTE) Short Interest Down 61.6% in December

Integrated Media Technology Limited (NASDAQ:IMTE) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 12,033 shares, a drop of 61.6% from the December 15th total of 31,302 shares. Based on an average daily trading volume, of 32,478 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.4% of the shares of the company are sold short. Approximately 0.4% of the shares of the company are sold short. Based on an average daily trading volume, of 32,478 shares, the days-to-cover ratio is presently 0.4 days.

Integrated Media Technology Stock Performance

NASDAQ IMTE traded down $0.02 during midday trading on Wednesday, hitting $0.59. The company had a trading volume of 16,750 shares, compared to its average volume of 26,039. The firm has a fifty day simple moving average of $0.72 and a two-hundred day simple moving average of $0.93. Integrated Media Technology has a fifty-two week low of $0.50 and a fifty-two week high of $3.17.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Integrated Media Technology in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

About Integrated Media Technology

Integrated Media Technology (NASDAQ: IMTE) is a semiconductor company specializing in digital audio processing solutions for consumer electronics, telecommunications equipment and professional audio applications. The company’s core business revolves around the design, development and sale of digital signal processing (DSP) chips, audio modules and accompanying firmware and software algorithms. Its product portfolio includes high-performance audio codecs, multi-channel DSP cores, noise reduction and echo cancellation engines, all tailored to enhance audio quality in smart speakers, soundbars, televisions, set-top boxes and conferencing devices.

In addition to standalone chips, Integrated Media Technology offers turnkey hardware modules that integrate its DSP IP with analog-to-digital converters (ADCs), digital-to-analog converters (DACs) and power management subsystems.