GigaMedia Limited (NASDAQ:GIGM) Shares Shorted: Short Interest Down 96.2% in September

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 67 shares, a decline of 96.2% from the September 15th total of 1,780 shares. Based on an average trading volume of 1,663 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

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

GigaMedia Trading Down 1.4%

GIGM traded down $0.02 during trading on Friday, hitting $1.36. 4,451 shares of the company’s stock were exchanged, compared to its average volume of 3,162. GigaMedia has a 1 year low of $1.11 and a 1 year high of $1.72. The stock has a 50 day moving average price of $1.40 and a 200 day moving average price of $1.41. The firm has a market cap of $15.03 million, a P/E ratio of -7.56 and a beta of 0.44.

GigaMedia (NASDAQ:GIGM) last issued its earnings results on Friday, July 31st. The technology company reported $0.05 EPS for the quarter. The business 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 was a Taiwan-based digital entertainment company whose business historically focused on online games and related interactive services. The company developed and operated gaming platforms offering casual games, card games, mahjong and other online entertainment products.

Its principal consumer brand was FunTown, an online gaming service associated with the Taiwanese and broader Asian markets. GigaMedia also operated or invested in online gaming businesses serving international customers, including online poker and casino-related services, although the company’s portfolio changed over time as it divested certain operations.

GigaMedia’s business activities have primarily been connected with Taiwan and other markets in Asia, with selected online gaming services reaching customers internationally.