Short Interest in Integrated Media Technology Limited (NASDAQ:IMTE) Declines By 57.7%

Integrated Media Technology Limited (NASDAQ:IMTE) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 20,892 shares, a decline of 57.7% from the June 15th total of 49,361 shares. Based on an average trading volume of 31,037 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.6% of the shares of the stock are sold short.

Integrated Media Technology Stock Down 1.5%

Shares of IMTE traded down $0.01 during trading hours on Thursday, reaching $0.49. 1,526 shares of the company traded hands, compared to its average volume of 619,277. Integrated Media Technology has a fifty-two week low of $0.40 and a fifty-two week high of $1.54. The stock has a fifty day simple moving average of $0.52 and a 200 day simple moving average of $0.60.

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.