Short Interest in GigaMedia Limited (NASDAQ:GIGM) Grows By 1,731.3%

GigaMedia Limited (NASDAQ:GIGM) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 6,263 shares, an increase of 1,731.3% from the April 30th total of 342 shares. Based on an average daily volume of 10,644 shares, the short-interest ratio is presently 0.6 days. Currently, 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On GigaMedia

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. grew its position in GigaMedia Limited (NASDAQ:GIGM) by 29.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,233 shares of the technology company’s stock after acquiring an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned about 1.53% of GigaMedia worth $242,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of GigaMedia in a report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

GigaMedia Price Performance

NASDAQ GIGM opened at $1.47 on Thursday. The company has a market cap of $16.27 million, a PE ratio of -9.81 and a beta of 0.48. The stock’s 50 day simple moving average is $1.43 and its 200-day simple moving average is $1.49. GigaMedia has a 1-year low of $1.29 and a 1-year high of $1.89.

GigaMedia (NASDAQ:GIGM) last released its earnings results on Monday, May 4th. The technology company reported ($0.08) earnings per share for the quarter. The firm had revenue of $0.75 million during the quarter. GigaMedia had a negative net margin of 50.86% and a negative return on equity of 4.52%.

GigaMedia Company Profile

GigaMedia Limited (NASDAQ: GIGM) is a digital entertainment company that develops and operates online gaming platforms and value‐added services. The company’s offerings encompass multiplayer online games, mobile titles, and interactive entertainment that cater to both casual and core gaming audiences. Through its proprietary platform architecture, GigaMedia delivers content that ranges from fantasy role‐playing adventures to strategy and social games.

In addition to game development and publishing, GigaMedia provides a suite of complementary services designed to enhance user engagement and monetization.