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

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 6,263 shares, a growth of 1,731.3% from the April 30th total of 342 shares. Based on an average daily trading volume, of 10,644 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On GigaMedia

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. grew its stake in shares of GigaMedia Limited (NASDAQ:GIGM) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 189,871 shares of the technology company’s stock after purchasing an additional 16,138 shares during the quarter. Osaic Holdings Inc. owned approximately 1.72% of GigaMedia worth $283,000 as of its most recent SEC filing. Institutional investors and hedge funds own 13.50% of the company’s stock.

Analyst Ratings Changes

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

GigaMedia Trading Down 1.2%

NASDAQ GIGM traded down $0.02 on Wednesday, hitting $1.47. 7,037 shares of the stock traded hands, compared to its average volume of 7,695. The stock has a 50-day moving average of $1.43 and a 200 day moving average of $1.49. GigaMedia has a twelve month low of $1.29 and a twelve month high of $1.89. The company has a market capitalization of $16.27 million, a P/E ratio of -9.81 and a beta of 0.48.

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

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.