StockNews.com Begins Coverage on GigaMedia (NASDAQ:GIGM)

StockNews.com initiated coverage on shares of GigaMedia (NASDAQ:GIGMGet Rating) in a research note released on Tuesday morning. The firm issued a sell rating on the technology company’s stock.

GigaMedia Stock Performance

GIGM stock opened at $1.23 on Tuesday. The company’s 50 day moving average price is $1.24 and its 200 day moving average price is $1.46. GigaMedia has a fifty-two week low of $1.12 and a fifty-two week high of $2.97. The firm has a market capitalization of $13.59 million, a price-to-earnings ratio of -3.32 and a beta of 0.31.

Institutional Trading of GigaMedia

A hedge fund recently bought a new stake in GigaMedia stock. Two Sigma Investments LP purchased a new stake in GigaMedia Limited (NASDAQ:GIGMGet Rating) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 31,395 shares of the technology company’s stock, valued at approximately $40,000. Two Sigma Investments LP owned about 0.28% of GigaMedia as of its most recent SEC filing. 4.04% of the stock is currently owned by institutional investors.

GigaMedia Company Profile

(Get Rating)

GigaMedia Limited, together with its subsidiaries, provides digital entertainment services in Taiwan and Hong Kong. The company operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games through branded platform. It offers MahJong, a traditional Chinese tile-based game; casual card and table games; online card games; and chance-based games, including bingo, lotto, horse racing, Sic-Bo, slots, and various casual games.

Further Reading

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