Short Interest in Integrated Media Technology Limited (NASDAQ:IMTE) Declines By 38.4%

Integrated Media Technology Limited (NASDAQ:IMTE) was the recipient of a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 105,571 shares, a decrease of 38.4% from the March 15th total of 171,448 shares. Based on an average daily volume of 34,667 shares, the days-to-cover ratio is currently 3.0 days. Currently, 3.1% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Integrated Media Technology Stock Performance

IMTE stock opened at $0.69 on Monday. Integrated Media Technology has a one year low of $0.50 and a one year high of $1.54. The company has a fifty day moving average of $0.63 and a 200-day moving average of $0.76.

Integrated Media Technology (NASDAQ:IMTE) last released its earnings results on Tuesday, February 10th. The company reported ($0.08) EPS for the quarter. The firm 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.