Short Interest in GigaMedia Limited (NASDAQ:GIGM) Decreases By 97.3%

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant drop in short interest in March. As of March 13th, there was short interest totaling 96 shares, a drop of 97.3% from the February 26th total of 3,506 shares. Based on an average daily volume of 6,325 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company’s shares are sold short. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 6,325 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Trading of GigaMedia

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. increased its stake in GigaMedia Limited (NASDAQ:GIGM) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,871 shares of the technology company’s stock after acquiring an additional 16,138 shares during the quarter. Osaic Holdings Inc. owned 1.72% of GigaMedia worth $283,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 13.50% of the company’s stock.

GigaMedia Stock Down 5.1%

GIGM traded down $0.08 during trading on Tuesday, reaching $1.45. 3,020 shares of the stock traded hands, compared to its average volume of 6,190. The stock’s 50-day moving average is $1.53 and its 200 day moving average is $1.57. GigaMedia has a 12 month low of $1.37 and a 12 month high of $1.89. The stock has a market capitalization of $16.02 million, a PE ratio of -13.18 and a beta of 0.43.

Analysts Set New Price Targets

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

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.