GigaMedia Limited (NASDAQ:GIGM) Sees Significant Increase in Short Interest

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 26,100 shares, a growth of 1,034.8% from the September 15th total of 2,300 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 8,500 shares, the short-interest ratio is currently 3.1 days.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of GigaMedia in a report on Wednesday. They issued a “sell” rating for the company.

GigaMedia Price Performance

NASDAQ GIGM remained flat at $1.36 on Friday. 3,697 shares of the company were exchanged, compared to its average volume of 8,967. The stock’s fifty day moving average price is $1.34 and its two-hundred day moving average price is $1.32. The firm has a market cap of $15.03 million, a price-to-earnings ratio of -3.53 and a beta of 0.37. GigaMedia has a 12-month low of $1.23 and a 12-month high of $1.50.

GigaMedia (NASDAQ:GIGM) last posted its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.06) earnings per share for the quarter. GigaMedia had a negative return on equity of 9.33% and a negative net margin of 121.14%. The firm had revenue of $0.72 million for the quarter.

GigaMedia Company Profile

GigaMedia Limited, together with its subsidiaries, provides digital entertainment services in Taiwan and Hong Kong. It operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games through branded platform. The company offers MahJong, a traditional Chinese tile-based game; casual card and table games; online card games; and chance-based games, including bingo, lotto, horse racing, Sic-Bo, slots, and various casual games.