GigaMedia Limited (NASDAQ:GIGM) Sees Significant Drop in Short Interest

GigaMedia Limited (NASDAQ:GIGM) saw a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 2,649 shares, a decrease of 35.3% from the July 30th total of 4,092 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 7,691 shares, the short-interest ratio is currently 0.3 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of GigaMedia from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, GigaMedia currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On GigaMedia

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

GigaMedia Stock Performance

Shares of NASDAQ GIGM opened at $1.40 on Thursday. GigaMedia has a fifty-two week low of $1.29 and a fifty-two week high of $1.89. The company has a market cap of $15.41 million, a PE ratio of -7.75 and a beta of 0.48. The business has a 50-day simple moving average of $1.42 and a two-hundred day simple moving average of $1.45.

GigaMedia (NASDAQ:GIGM) last posted its quarterly earnings data on Friday, July 31st. The technology company reported $0.05 earnings per share (EPS) for the quarter. The firm had revenue of $2.13 million for the quarter. GigaMedia had a negative net margin of 43.36% and a negative return on equity of 5.36%.

GigaMedia Company Profile

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.