Integrated Media Technology Limited (NASDAQ:IMTE) Short Interest Up 771.5% in January

Integrated Media Technology Limited (NASDAQ:IMTE) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 56,026 shares, a growth of 771.5% from the January 15th total of 6,429 shares. Approximately 1.7% of the company’s shares are sold short. Based on an average daily trading volume, of 6,153,093 shares, the short-interest ratio is currently 0.0 days. Based on an average daily trading volume, of 6,153,093 shares, the short-interest ratio is currently 0.0 days. Approximately 1.7% of the company’s shares are sold short.

Wall Street Analyst Weigh In

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

Integrated Media Technology Price Performance

IMTE traded down $0.03 during trading on Tuesday, reaching $0.59. 20,637 shares of the company’s stock were exchanged, compared to its average volume of 3,140,658. The company’s fifty day moving average price is $0.70 and its 200-day moving average price is $0.88. Integrated Media Technology has a fifty-two week low of $0.50 and a fifty-two week high of $3.17.

Integrated Media Technology (NASDAQ:IMTE) last posted its quarterly earnings results on Monday, February 9th. The company reported $0.04 earnings per share for the quarter. The company had revenue of $0.03 million during 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.