GigaMedia (NASDAQ:GIGM) Now Covered by StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of GigaMedia (NASDAQ:GIGM) in a research report issued on Tuesday. The brokerage set a “sell” rating on the technology company’s stock.

GigaMedia Price Performance

Shares of NASDAQ:GIGM opened at $1.27 on Tuesday. The company’s 50-day moving average price is $1.31 and its two-hundred day moving average price is $1.36. GigaMedia has a one year low of $1.23 and a one year high of $1.62. The stock has a market capitalization of $14.04 million, a PE ratio of -3.97 and a beta of 0.43.

Institutional Investors Weigh In On GigaMedia

A hedge fund recently bought a new stake in GigaMedia stock. Susquehanna International Group LLP bought a new stake in GigaMedia Limited (NASDAQ:GIGM) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 26,538 shares of the technology company’s stock, valued at approximately $38,000. Susquehanna International Group LLP owned 0.24% of GigaMedia as of its most recent filing with the SEC. Hedge funds and other institutional investors own 13.50% of the company’s stock.

About GigaMedia

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.