Short Interest in GigaMedia Limited (NASDAQ:GIGM) Rises By 69.0%

GigaMedia Limited (NASDAQ:GIGM) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 10,587 shares, a growth of 69.0% from the May 14th total of 6,263 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 5,052 shares, the short-interest ratio is presently 2.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GigaMedia in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

GigaMedia Trading Up 1.9%

GIGM traded up $0.03 during trading on Wednesday, hitting $1.43. 312 shares of the company’s stock traded hands, compared to its average volume of 5,864. The company’s 50 day simple moving average is $1.42 and its two-hundred day simple moving average is $1.48. GigaMedia has a 12-month low of $1.29 and a 12-month high of $1.89. The stock has a market capitalization of $15.76 million, a price-to-earnings ratio of -9.51 and a beta of 0.49.

GigaMedia (NASDAQ:GIGM) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.08) earnings per share for the quarter. GigaMedia had a negative return on equity of 4.52% and a negative net margin of 50.86%.The business had revenue of $0.75 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. lifted its holdings in GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 169,233 shares of the technology company’s stock after purchasing an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned 1.53% of GigaMedia worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 13.50% of the company’s stock.

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.