GigaMedia (NASDAQ:GIGM) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of GigaMedia Limited (NASDAQ:GIGM) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.48 and traded as high as $1.48. GigaMedia shares last traded at $1.46, with a volume of 17,036 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of GigaMedia in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GigaMedia presently has a consensus rating of “Sell”.

GigaMedia Stock Up 0.8%

The company’s 50-day moving average is $1.43 and its 200 day moving average is $1.48. The company has a market cap of $15.37 million, a price-to-earnings ratio of -9.27 and a beta of 0.49.

GigaMedia (NASDAQ:GIGM) last issued its quarterly earnings data 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 firm had revenue of $0.75 million during the quarter.

Hedge Funds Weigh In On GigaMedia

An institutional investor recently raised its stake in GigaMedia stock. Osaic Holdings Inc. raised its holdings in GigaMedia Limited (NASDAQ:GIGM) by 9.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 189,871 shares of the technology company’s stock after purchasing an additional 16,138 shares during the period. Osaic Holdings Inc. owned about 1.72% of GigaMedia worth $283,000 at the end of the most recent quarter. 13.50% of the stock is owned by hedge funds and other institutional investors.

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.