GigaMedia Limited (NASDAQ:GIGM) Sees Large Decrease in Short Interest

GigaMedia Limited (NASDAQ:GIGM) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 165 shares, a decline of 88.8% from the December 31st total of 1,475 shares. Based on an average daily volume of 10,112 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the company’s stock are short sold. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 10,112 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On GigaMedia

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. raised its holdings in GigaMedia Limited (NASDAQ:GIGM) by 29.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 169,233 shares of the technology company’s stock after acquiring an additional 38,521 shares during the period. Osaic Holdings Inc. owned approximately 1.53% of GigaMedia worth $242,000 at the end of the most recent reporting period. Institutional investors own 13.50% of the company’s stock.

GigaMedia Stock Performance

GIGM stock traded up $0.03 during midday trading on Thursday, reaching $1.52. 2,158 shares of the company’s stock traded hands, compared to its average volume of 7,613. The firm has a market capitalization of $16.80 million, a PE ratio of -13.82 and a beta of 0.41. The company has a 50-day moving average price of $1.50 and a two-hundred day moving average price of $1.56. GigaMedia has a 52 week low of $1.38 and a 52 week high of $1.89.

GigaMedia (NASDAQ:GIGM) last announced its quarterly earnings results on Thursday, October 30th. The technology company reported ($0.09) earnings per share for the quarter. The company had revenue of $0.92 million during the quarter. GigaMedia had a negative net margin of 37.82% and a negative return on equity of 3.25%.

Analysts Set New Price Targets

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

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.