GigaMedia Limited (NASDAQ:GIGM) Sees Significant Growth in Short Interest

GigaMedia Limited (NASDAQ:GIGM) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 7,500 shares, a growth of 27.1% from the December 15th total of 5,900 shares. Based on an average daily trading volume, of 19,600 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on GigaMedia in a report on Monday, January 13th. They issued a “sell” rating on the stock.

GigaMedia Stock Performance

GigaMedia stock traded down $0.06 during trading hours on Friday, reaching $1.58. 4,708 shares of the stock were exchanged, compared to its average volume of 31,083. The stock has a market cap of $17.46 million, a P/E ratio of -4.39 and a beta of 0.37. The firm’s 50 day moving average is $1.52 and its 200 day moving average is $1.40. GigaMedia has a 52-week low of $1.23 and a 52-week high of $1.80.

GigaMedia Company Profile

GigaMedia Limited, together with its subsidiaries, provides digital entertainment services in Taiwan, Hong Kong, and Macau. The company owns and operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games, as well as provides services such as player clubs, tournaments, avatars, friends and family messenger and online chatting systems, customer service, mobile platform, and customer platform.