GigaMedia (NASDAQ:GIGM) Shares Pass Above 200-Day Moving Average – What’s Next?

GigaMedia Limited (NASDAQ:GIGM)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.54 and traded as high as $1.60. GigaMedia shares last traded at $1.5904, with a volume of 960 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GigaMedia in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

GigaMedia Stock Up 0.7%

The firm has a market cap of $17.58 million, a PE ratio of -31.81 and a beta of 0.39. The business has a 50 day simple moving average of $1.67 and a two-hundred day simple moving average of $1.54.

GigaMedia (NASDAQ:GIGM) last released its earnings results on Thursday, October 30th. The technology company reported ($0.09) earnings per share for the quarter. The business had revenue of $0.92 million for the quarter. GigaMedia had a negative return on equity of 1.57% and a negative net margin of 19.50%.

Hedge Funds Weigh In On GigaMedia

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