GigaMedia Limited (NASDAQ:GIGM) Stock Short Interest Climbs 126.9%

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

GigaMedia Stock Performance

GIGM stock traded up $0.18 during midday trading on Friday, reaching $1.41. The company’s stock had a trading volume of 95,518 shares, compared to its average volume of 6,496. The stock has a fifty day simple moving average of $1.35 and a two-hundred day simple moving average of $1.43. GigaMedia has a 1 year low of $1.11 and a 1 year high of $1.66. The firm has a market capitalization of $15.58 million, a price-to-earnings ratio of -7.83 and a beta of 0.44.

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

Analysts Set New Price Targets

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

About GigaMedia

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.