GigaMedia Limited (NASDAQ:GIGM) Stock Short Interest Climbs 126.9%

GigaMedia Limited (NASDAQ:GIGM) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 152 shares, an increase of 126.9% from the September 30th total of 67 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 8,340 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered GigaMedia from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has an average rating of “Sell”.

GigaMedia Stock Up 14.6%

GIGM stock traded up $0.18 during mid-day trading on Friday, hitting $1.41. The company had a trading volume of 95,518 shares, compared to its average volume of 6,496. The company has a 50-day moving average price of $1.35 and a 200 day moving average price of $1.43. GigaMedia has a 12-month low of $1.11 and a 12-month high of $1.66. The company has a market capitalization of $15.58 million, a price-to-earnings ratio of -7.83 and a beta of 0.44.

GigaMedia (NASDAQ:GIGM) last announced its quarterly earnings results on Friday, October 30th. The technology company reported $0.17 earnings per share for the quarter. GigaMedia had a negative net margin of 43.36% and a negative return on equity of 5.36%. The company had revenue of $3.16 million for the quarter.

GigaMedia Company Profile

GigaMedia Limited (NASDAQ: GIGM) is an online games and entertainment company focused primarily on markets in Greater China and Southeast Asia. Through its online entertainment platforms, the company provides casual and social games, including mahjong, poker, card and other multiplayer titles designed for play on computers and mobile devices.

The company operates the FunTown brand, which has historically served users in Taiwan and other Asian markets. Its services are generally supported by digital distribution and online platform features, including account management, virtual goods and other forms of in-game entertainment.

GigaMedia was founded in 1998 and initially developed telecommunications and broadband-related businesses in Taiwan before transitioning toward online games and entertainment.