GigaMedia Limited (NASDAQ:GIGM) Short Interest Update

GigaMedia Limited (NASDAQ:GIGM) was the target of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 10,587 shares, an increase of 69.0% from the May 14th total of 6,263 shares. Based on an average trading volume of 5,052 shares, the days-to-cover ratio is currently 2.1 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. increased its position in shares of GigaMedia Limited (NASDAQ:GIGM) by 29.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. 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 about 1.53% of GigaMedia worth $242,000 as of its most recent SEC filing. 13.50% of the stock is owned by institutional investors.

GigaMedia Stock Down 0.7%

NASDAQ:GIGM traded down $0.01 during mid-day trading on Monday, reaching $1.38. 1,834 shares of the stock were exchanged, compared to its average volume of 5,887. The company has a 50 day simple moving average of $1.42 and a 200-day simple moving average of $1.48. The stock has a market capitalization of $15.25 million, a P/E ratio of -9.20 and a beta of 0.49. GigaMedia has a 1 year low of $1.29 and a 1 year high of $1.89.

GigaMedia (NASDAQ:GIGM) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $0.75 million for the quarter. GigaMedia had a negative return on equity of 4.52% and a negative net margin of 50.86%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GigaMedia in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

About GigaMedia

GigaMedia Limited (NASDAQ: GIGM) is a digital entertainment company that develops and operates online gaming platforms and value‐added services. The company’s offerings encompass multiplayer online games, mobile titles, and interactive entertainment that cater to both casual and core gaming audiences. Through its proprietary platform architecture, GigaMedia delivers content that ranges from fantasy role‐playing adventures to strategy and social games.

In addition to game development and publishing, GigaMedia provides a suite of complementary services designed to enhance user engagement and monetization.