GigaMedia (NASDAQ:GIGM) Stock Passes Above 200-Day Moving Average – Here’s Why

GigaMedia Limited (NASDAQ:GIGM)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.55 and traded as high as $1.59. GigaMedia shares last traded at $1.59, with a volume of 2,272 shares changing hands.

Wall Street Analyst Weigh In

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

GigaMedia Stock Performance

The business has a fifty day simple moving average of $1.57 and a 200 day simple moving average of $1.55. The stock has a market cap of $16.58 million, a price-to-earnings ratio of -13.64 and a beta of 0.44.

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

Institutional Investors Weigh In On GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. boosted its position in GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the 2nd quarter, according to the company in its most recent Form 13F 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 approximately 1.53% of GigaMedia worth $242,000 at the end of the most recent quarter. Institutional investors and hedge funds own 13.50% of the company’s stock.

GigaMedia Company Profile

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.