GigaMedia (NASDAQ:GIGM) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

GigaMedia Limited (NASDAQ:GIGM)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.54 and traded as high as $1.65. GigaMedia shares last traded at $1.64, with a volume of 3,362 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GigaMedia in a research report on Wednesday. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

GigaMedia Stock Performance

The firm has a market cap of $18.12 million, a price-to-earnings ratio of -32.80 and a beta of 0.37. The business’s 50 day moving average price is $1.62 and its 200-day moving average price is $1.54.

GigaMedia (NASDAQ:GIGM) last issued its earnings results on Thursday, July 31st. The technology company reported $0.08 earnings per share (EPS) for the quarter. The business 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%.

Institutional Investors Weigh In On GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. grew its stake in GigaMedia Limited (NASDAQ:GIGM) by 29.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 169,233 shares of the technology company’s stock after purchasing an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned approximately 1.53% of GigaMedia worth $242,000 as of its most recent filing with the SEC. 13.50% of the stock is currently owned by institutional investors.

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.