GigaMedia Limited (NASDAQ:GIGM) Short Interest Up 1,193.7% in February

GigaMedia Limited (NASDAQ:GIGM) saw a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 3,506 shares, an increase of 1,193.7% from the February 12th total of 271 shares. Based on an average daily trading volume, of 5,709 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the shares of the company are short sold. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 5,709 shares, the days-to-cover ratio is currently 0.6 days.

GigaMedia Price Performance

Shares of GIGM remained flat at $1.56 during mid-day trading on Thursday. The stock had a trading volume of 8,225 shares, compared to its average volume of 7,315. GigaMedia has a 1 year low of $1.38 and a 1 year high of $1.89. The firm has a market capitalization of $17.24 million, a PE ratio of -14.18 and a beta of 0.43. The company has a 50-day moving average price of $1.53 and a 200 day moving average price of $1.58.

Institutional Investors Weigh In On GigaMedia

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. grew its position in shares of GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,233 shares of the technology company’s stock after purchasing an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned approximately 1.53% of GigaMedia worth $242,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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