GigaMedia (NASDAQ:GIGM) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of GigaMedia Limited (NASDAQ:GIGM) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.54 and traded as high as $1.55. GigaMedia shares last traded at $1.5260, with a volume of 3,647 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GigaMedia in a report on Monday, December 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

GigaMedia Stock Up 1.7%

The stock has a market cap of $16.86 million, a PE ratio of -13.87 and a beta of 0.44. The business’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $1.55.

GigaMedia (NASDAQ:GIGM) last posted its earnings results on Thursday, October 30th. The technology company reported ($0.09) earnings per share (EPS) for the quarter. The business had revenue of $0.92 million during the quarter. GigaMedia had a negative return on equity of 3.25% and a negative net margin of 37.82%.

Hedge Funds Weigh In On GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. increased its holdings in GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 about 1.53% of GigaMedia worth $242,000 as of its most recent filing with the Securities & Exchange Commission. 13.50% of the stock is currently owned by institutional investors and hedge funds.

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.