GigaMedia (NASDAQ:GIGM) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of GigaMedia Limited (NASDAQ:GIGM) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.54 and traded as high as $1.5650. GigaMedia shares last traded at $1.52, with a volume of 1,956 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GigaMedia in a report on Thursday, November 13th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

GigaMedia Stock Performance

The firm has a market capitalization of $16.80 million, a price-to-earnings ratio of -30.40 and a beta of 0.39. The business has a fifty day moving average price of $1.66 and a 200 day moving average price of $1.54.

GigaMedia (NASDAQ:GIGM) last issued its earnings results on Thursday, October 30th. The technology company reported ($0.09) earnings per share for the quarter. The firm had revenue of $0.92 million during the quarter. GigaMedia had a negative net margin of 19.50% and a negative return on equity of 1.57%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. grew its holdings in shares of GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,233 shares of the technology company’s stock after buying an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned 1.53% of GigaMedia worth $242,000 at the end of the most recent quarter. Institutional investors and hedge funds own 13.50% of the company’s stock.

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.