GigaMedia Limited (NASDAQ:GIGM) Short Interest Down 81.1% in April

GigaMedia Limited (NASDAQ:GIGM) was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 342 shares, a drop of 81.1% from the April 15th total of 1,810 shares. Based on an average trading volume of 4,882 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

GigaMedia Stock Up 2.3%

Shares of GigaMedia stock traded up $0.03 during trading on Tuesday, reaching $1.46. 1,837 shares of the stock were exchanged, compared to its average volume of 7,849. The firm has a market cap of $16.17 million, a price-to-earnings ratio of -9.75 and a beta of 0.48. GigaMedia has a 1 year low of $1.29 and a 1 year high of $1.89. The stock’s fifty day moving average is $1.45 and its 200 day moving average is $1.51.

GigaMedia (NASDAQ:GIGM) last announced its quarterly earnings results on Monday, May 4th. The technology company reported ($0.08) EPS for the quarter. The business had revenue of $0.75 million during the quarter. GigaMedia had a negative return on equity of 4.52% and a negative net margin of 50.86%.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GigaMedia in a report on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company 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.