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

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 152 shares, an increase of 126.9% from the September 30th total of 67 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 8,340 shares, the short-interest ratio is currently 0.0 days.

GigaMedia Price Performance

NASDAQ:GIGM opened at $1.41 on Friday. GigaMedia has a 12 month low of $1.11 and a 12 month high of $1.66. The business’s fifty day moving average price is $1.35 and its 200 day moving average price is $1.43. The firm has a market capitalization of $15.58 million, a PE ratio of 17.63 and a beta of 0.44.

GigaMedia (NASDAQ:GIGM) last issued its quarterly earnings data on Friday, October 30th. The technology company reported $0.17 EPS for the quarter. GigaMedia had a negative net margin of 43.36% and a negative return on equity of 5.36%. The firm had revenue of $3.16 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of GigaMedia from a “sell (d)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, GigaMedia currently has a consensus rating of “Sell”.

GigaMedia Company Profile

GigaMedia Limited (NASDAQ: GIGM) is an online games and entertainment company focused primarily on markets in Greater China and Southeast Asia. Through its online entertainment platforms, the company provides casual and social games, including mahjong, poker, card and other multiplayer titles designed for play on computers and mobile devices.

The company operates the FunTown brand, which has historically served users in Taiwan and other Asian markets. Its services are generally supported by digital distribution and online platform features, including account management, virtual goods and other forms of in-game entertainment.

GigaMedia was founded in 1998 and initially developed telecommunications and broadband-related businesses in Taiwan before transitioning toward online games and entertainment.