GigaMedia (NASDAQ:GIGM) Shares Cross Above 200-Day Moving Average – Here’s What Happened

GigaMedia Limited (NASDAQ:GIGM) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.57 and traded as high as $1.58. GigaMedia shares last traded at $1.5690, with a volume of 14,676 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GigaMedia in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

GigaMedia Stock Down 1.4%

The company has a market capitalization of $17.22 million, a price-to-earnings ratio of -14.17 and a beta of 0.43. The stock’s 50-day simple moving average is $1.51 and its two-hundred day simple moving average is $1.57.

Institutional Investors Weigh In On GigaMedia

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

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.