GigaMedia Limited (NASDAQ:GIGM) Sees Large Decline in Short Interest

GigaMedia Limited (NASDAQ:GIGM) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,900 shares, a decline of 64.2% from the March 31st total of 5,300 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 12,700 shares, the days-to-cover ratio is currently 0.1 days.

GigaMedia Trading Up 0.6 %

GIGM stock opened at $1.59 on Friday. GigaMedia has a one year low of $1.26 and a one year high of $1.80. The firm has a 50-day moving average of $1.59 and a two-hundred day moving average of $1.53. The firm has a market capitalization of $17.57 million, a PE ratio of -4.42 and a beta of 0.35.

GigaMedia (NASDAQ:GIGM) last issued its quarterly earnings results on Friday, March 28th. The technology company reported ($0.04) earnings per share for the quarter. The business had revenue of $0.76 million for the quarter. GigaMedia had a negative net margin of 126.94% and a negative return on equity of 9.19%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on GigaMedia in a report on Sunday. They set a “sell” rating for the company.

About GigaMedia

GigaMedia Limited, together with its subsidiaries, provides digital entertainment services in Taiwan, Hong Kong, and Macau. The company owns and operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games, as well as provides services such as player clubs, tournaments, avatars, friends and family messenger and online chatting systems, customer service, mobile platform, and customer platform.