Integrated Media Technology Limited (NASDAQ:IMTE) Sees Significant Decline in Short Interest

Integrated Media Technology Limited (NASDAQ:IMTE) saw a significant drop in short interest in March. As of March 13th, there was short interest totaling 171,448 shares, a drop of 71.6% from the February 26th total of 603,448 shares. Approximately 5.1% of the shares of the company are short sold. Based on an average trading volume of 115,945 shares, the days-to-cover ratio is currently 1.5 days. Based on an average trading volume of 115,945 shares, the days-to-cover ratio is currently 1.5 days. Approximately 5.1% of the shares of the company are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Integrated Media Technology in a report on Tuesday, February 3rd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Integrated Media Technology Trading Down 5.6%

NASDAQ IMTE traded down $0.03 during trading hours on Wednesday, reaching $0.58. The company had a trading volume of 15,935 shares, compared to its average volume of 1,346,504. Integrated Media Technology has a 1-year low of $0.50 and a 1-year high of $3.17. The stock has a 50-day moving average of $0.68 and a 200 day moving average of $0.80.

Integrated Media Technology (NASDAQ:IMTE) last issued its quarterly earnings results on Tuesday, February 10th. The company reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $0.03 million for the quarter.

Integrated Media Technology Company Profile

Integrated Media Technology (NASDAQ: IMTE) is a semiconductor company specializing in digital audio processing solutions for consumer electronics, telecommunications equipment and professional audio applications. The company’s core business revolves around the design, development and sale of digital signal processing (DSP) chips, audio modules and accompanying firmware and software algorithms. Its product portfolio includes high-performance audio codecs, multi-channel DSP cores, noise reduction and echo cancellation engines, all tailored to enhance audio quality in smart speakers, soundbars, televisions, set-top boxes and conferencing devices.

In addition to standalone chips, Integrated Media Technology offers turnkey hardware modules that integrate its DSP IP with analog-to-digital converters (ADCs), digital-to-analog converters (DACs) and power management subsystems.