GigaMedia Limited (NASDAQ:GIGM) Sees Significant Decrease 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. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 6,325 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 6,325 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

GigaMedia Stock Up 1.3%

NASDAQ GIGM traded up $0.02 during midday trading on Wednesday, hitting $1.47. The company had a trading volume of 169 shares, compared to its average volume of 6,787. The firm has a fifty day simple moving average of $1.53 and a two-hundred day simple moving average of $1.57. GigaMedia has a fifty-two week low of $1.37 and a fifty-two week high of $1.89. The stock has a market cap of $16.23 million, a price-to-earnings ratio of -13.35 and a beta of 0.43.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of GigaMedia in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. raised its position in GigaMedia Limited (NASDAQ:GIGM) by 29.5% in 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 about 1.53% of GigaMedia worth $242,000 as of its most recent SEC filing. 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.