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

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a large drop in short interest in March. As of March 13th, there was short interest totaling 96 shares, a drop of 97.3% from the February 26th total of 3,506 shares. Based on an average daily trading volume, of 6,325 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

Institutional Investors Weigh In On GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. raised its holdings in shares of GigaMedia Limited (NASDAQ:GIGM) by 9.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 189,871 shares of the technology company’s stock after acquiring 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 filing with the Securities and Exchange Commission (SEC). 13.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GigaMedia in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GigaMedia presently has an average rating of “Sell”.

GigaMedia Trading Up 1.7%

Shares of NASDAQ:GIGM traded up $0.02 during midday trading on Thursday, reaching $1.50. The company had a trading volume of 1,310 shares, compared to its average volume of 6,724. The stock has a market cap of $16.57 million, a P/E ratio of -13.63 and a beta of 0.43. The company’s 50 day moving average price is $1.53 and its 200 day moving average price is $1.57. GigaMedia has a 52-week low of $1.37 and a 52-week high of $1.89.

GigaMedia (NASDAQ:GIGM) last posted its quarterly earnings data on Thursday, March 26th. The technology company reported ($0.06) earnings per share (EPS) for the quarter. The company had revenue of $0.83 million for the quarter. GigaMedia had a negative return on equity of 3.25% and a negative net margin of 37.82%.

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.