Integrated Media Technology Limited (NASDAQ:IMTE) Short Interest Down 71.6% in March

Integrated Media Technology Limited (NASDAQ:IMTE) saw a large decline in short interest in March. As of March 13th, there was short interest totaling 171,448 shares, a decline of 71.6% from the February 26th total of 603,448 shares. Based on an average daily volume of 115,945 shares, the days-to-cover ratio is presently 1.5 days. Currently, 5.1% of the shares of the company are short sold. Currently, 5.1% of the shares of the company are short sold. Based on an average daily volume of 115,945 shares, the days-to-cover ratio is presently 1.5 days.

Integrated Media Technology Stock Performance

Shares of NASDAQ:IMTE traded down $0.03 during trading on Wednesday, reaching $0.58. The stock had a trading volume of 15,935 shares, compared to its average volume of 1,346,504. Integrated Media Technology has a fifty-two week low of $0.50 and a fifty-two week high of $3.17. The business has a fifty day moving average price of $0.68 and a 200-day moving average price of $0.80.

Integrated Media Technology (NASDAQ:IMTE) last announced its quarterly earnings data on Tuesday, February 10th. The company reported ($0.08) EPS for the quarter. The firm had revenue of $0.03 million during the quarter.

Analyst Upgrades and Downgrades

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

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.