Short Interest in Integrated Media Technology Limited (NASDAQ:IMTE) Rises By 1,367.8%

Integrated Media Technology Limited (NASDAQ:IMTE) saw a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 603,448 shares, a growth of 1,367.8% from the February 12th total of 41,113 shares. Based on an average daily trading volume, of 1,352,095 shares, the short-interest ratio is presently 0.4 days. Approximately 17.9% of the company’s stock are sold short. Approximately 17.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,352,095 shares, the short-interest ratio is presently 0.4 days.

Analyst Ratings Changes

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

Integrated Media Technology Stock Up 2.3%

Shares of NASDAQ:IMTE traded up $0.01 during trading on Tuesday, hitting $0.62. 14,855 shares of the company were exchanged, compared to its average volume of 670,952. Integrated Media Technology has a 12-month low of $0.50 and a 12-month high of $3.17. The firm’s 50 day moving average price is $0.67 and its 200-day moving average price is $0.82.

Integrated Media Technology (NASDAQ:IMTE) last posted its earnings results on Tuesday, February 10th. The company reported ($0.08) EPS for the quarter. The company had revenue of $0.03 million for the quarter.

Integrated Media Technology Company Profile

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.