Integrated Media Technology Limited (NASDAQ:IMTE) Sees Large Increase in Short Interest

Integrated Media Technology Limited (NASDAQ:IMTE) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 49,361 shares, an increase of 88.9% from the May 31st total of 26,132 shares. Based on an average trading volume of 191,352 shares, the short-interest ratio is currently 0.3 days. Approximately 1.5% of the company’s stock are sold short.

Integrated Media Technology Price Performance

Shares of NASDAQ:IMTE traded up $0.03 on Wednesday, hitting $0.47. 14,269 shares of the company traded hands, compared to its average volume of 654,102. The stock has a 50 day simple moving average of $0.53 and a 200-day simple moving average of $0.61. Integrated Media Technology has a 52 week low of $0.40 and a 52 week high of $1.54.

About Integrated Media Technology

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.