Integrated Media Technology Limited (NASDAQ:IMTE) Sees Large Decline in Short Interest

Integrated Media Technology Limited (NASDAQ:IMTE) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 13,091 shares, a drop of 72.3% from the July 15th total of 47,229 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average trading volume of 19,936 shares, the days-to-cover ratio is presently 0.7 days.

Integrated Media Technology Stock Down 2.0%

IMTE traded down $0.01 during trading on Friday, hitting $0.52. 81,876 shares of the stock traded hands, compared to its average volume of 621,460. The business has a 50 day moving average price of $0.50 and a 200 day moving average price of $0.57. Integrated Media Technology has a twelve month low of $0.40 and a twelve month high of $1.38.

Integrated Media Technology Company Profile

Integrated Media Technology (NASDAQ: IMTE) is a semiconductor company specializing in digital audio processing solutions for consumer electronics, telecommunications equipment and professional audio applications. The company’s core business revolves around the design, development and sale of digital signal processing (DSP) chips, audio modules and accompanying firmware and software algorithms. Its product portfolio includes high-performance audio codecs, multi-channel DSP cores, noise reduction and echo cancellation engines, all tailored to enhance audio quality in smart speakers, soundbars, televisions, set-top boxes and conferencing devices.

In addition to standalone chips, Integrated Media Technology offers turnkey hardware modules that integrate its DSP IP with analog-to-digital converters (ADCs), digital-to-analog converters (DACs) and power management subsystems.