Short Interest in Integrated Media Technology Limited (NASDAQ:IMTE) Declines By 45.5%

Integrated Media Technology Limited (NASDAQ:IMTE) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 38,287 shares, a decrease of 45.5% from the April 15th total of 70,251 shares. Based on an average trading volume of 35,146 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.1% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Integrated Media Technology in a research note on Tuesday, February 3rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Integrated Media Technology Trading Down 4.7%

Integrated Media Technology stock traded down $0.03 during midday trading on Friday, reaching $0.53. The company had a trading volume of 39,633 shares, compared to its average volume of 36,803. Integrated Media Technology has a 12-month low of $0.50 and a 12-month high of $1.54. The firm’s fifty day simple moving average is $0.60 and its 200-day simple moving average is $0.68.

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