Short Interest in Integrated Media Technology Limited (NASDAQ:IMTE) Expands By 771.5%

Integrated Media Technology Limited (NASDAQ:IMTE) was the recipient of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 56,026 shares, an increase of 771.5% from the January 15th total of 6,429 shares. Currently, 1.7% of the company’s stock are sold short. Based on an average daily trading volume, of 6,153,093 shares, the short-interest ratio is currently 0.0 days. Based on an average daily trading volume, of 6,153,093 shares, the short-interest ratio is currently 0.0 days. Currently, 1.7% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Integrated Media Technology in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Integrated Media Technology presently has an average rating of “Sell”.

Integrated Media Technology Price Performance

NASDAQ IMTE traded up $0.01 on Thursday, hitting $0.62. 26,111 shares of the stock traded hands, compared to its average volume of 2,174,993. The business’s fifty day moving average is $0.70 and its two-hundred day moving average is $0.87. Integrated Media Technology has a 12 month low of $0.50 and a 12 month high of $3.17.

Integrated Media Technology (NASDAQ:IMTE) last issued its quarterly earnings results on Monday, February 9th. The company reported $0.04 EPS for the quarter. The firm had revenue of $0.03 million for the quarter.

Integrated Media Technology Company Profile

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.