Short Interest in Integrated Media Technology Limited (NASDAQ:IMTE) Declines By 61.6%

Integrated Media Technology Limited (NASDAQ:IMTE) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 12,033 shares, a drop of 61.6% from the December 15th total of 31,302 shares. Based on an average daily trading volume, of 32,478 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.4% of the company’s stock are short sold. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 32,478 shares, the days-to-cover ratio is presently 0.4 days.

Integrated Media Technology Stock Down 2.1%

Shares of NASDAQ:IMTE traded down $0.01 during trading on Thursday, hitting $0.58. 30,597 shares of the company were exchanged, compared to its average volume of 23,589. Integrated Media Technology has a fifty-two week low of $0.50 and a fifty-two week high of $3.17. The firm has a fifty day moving average price of $0.71 and a two-hundred day moving average price of $0.93.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Integrated Media Technology in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

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.