GigaMedia Limited (NASDAQ:GIGM) Short Interest Up 154.5% in September

GigaMedia Limited (NASDAQ:GIGM) was the target of a large growth in short interest in September. As of September 15th, there was short interest totaling 28,000 shares, a growth of 154.5% from the August 31st total of 11,000 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 13,200 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily volume of 13,200 shares, the days-to-cover ratio is currently 2.1 days. Approximately 0.5% of the company’s stock are short sold.

GigaMedia Price Performance

GIGM opened at $1.68 on Friday. The company has a market capitalization of $18.56 million, a price-to-earnings ratio of -33.60 and a beta of 0.37. The firm’s fifty day moving average price is $1.61 and its two-hundred day moving average price is $1.54. GigaMedia has a 1 year low of $1.33 and a 1 year high of $1.89.

GigaMedia (NASDAQ:GIGM) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $0.87 million for the quarter. GigaMedia had a negative net margin of 19.50% and a negative return on equity of 1.57%.

Hedge Funds Weigh In On GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. increased its stake in GigaMedia Limited (NASDAQ:GIGM) by 29.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 169,233 shares of the technology company’s stock after buying an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned 1.53% of GigaMedia worth $242,000 at the end of the most recent quarter. 13.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GigaMedia in a research note on Saturday, September 27th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About GigaMedia

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.