Short Interest in GigaMedia Limited (NASDAQ:GIGM) Drops By 81.1%

GigaMedia Limited (NASDAQ:GIGM) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 342 shares, a drop of 81.1% from the April 15th total of 1,810 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,882 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. grew its holdings in shares of GigaMedia Limited (NASDAQ:GIGM) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 189,871 shares of the technology company’s stock after acquiring an additional 16,138 shares during the quarter. Osaic Holdings Inc. owned 1.72% of GigaMedia worth $283,000 at the end of the most recent quarter. Institutional investors own 13.50% of the company’s stock.

GigaMedia Price Performance

GIGM stock traded up $0.03 during midday trading on Tuesday, reaching $1.46. The company had a trading volume of 1,837 shares, compared to its average volume of 7,849. The firm has a 50-day moving average price of $1.45 and a 200-day moving average price of $1.51. The company has a market capitalization of $16.17 million, a P/E ratio of -9.75 and a beta of 0.48. GigaMedia has a 1 year low of $1.29 and a 1 year high of $1.89.

GigaMedia (NASDAQ:GIGM) last posted its quarterly earnings data on Monday, May 4th. The technology company reported ($0.08) earnings per share (EPS) for the quarter. GigaMedia had a negative return on equity of 4.52% and a negative net margin of 50.86%.The company had revenue of $0.75 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GigaMedia in a research note on Friday, March 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

GigaMedia Company Profile

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.