Short Interest in Integrated Media Technology Limited (NASDAQ:IMTE) Drops By 26.6%

Integrated Media Technology Limited (NASDAQ:IMTE) was the target of a significant decrease in short interest in the month of February. As of February 13th, there was short interest totaling 41,113 shares, a decrease of 26.6% from the January 29th total of 56,026 shares. Based on an average daily volume of 32,150 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.2% of the shares of the stock are sold short. Approximately 1.2% of the shares of the stock are sold short. Based on an average daily volume of 32,150 shares, the days-to-cover ratio is presently 1.3 days.

Analyst Upgrades and Downgrades

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

Integrated Media Technology Trading Up 16.8%

Shares of IMTE traded up $0.10 during mid-day trading on Monday, reaching $0.66. The company had a trading volume of 507,784 shares, compared to its average volume of 628,728. The company’s 50 day simple moving average is $0.67 and its 200 day simple moving average is $0.84. Integrated Media Technology has a 1-year low of $0.50 and a 1-year high of $3.17.

Integrated Media Technology (NASDAQ:IMTE) last issued its quarterly earnings data on Monday, February 9th. The company reported $0.04 EPS for the quarter. The company had revenue of $0.03 million during the quarter.

About Integrated Media Technology

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.