GigaMedia (NASDAQ:GIGM) Stock Breaks Above 50-Day Moving Average – Time to Sell?

Shares of GigaMedia Limited (NASDAQ:GIGM) passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $1.35 and traded as high as $1.45. GigaMedia shares last traded at $1.41, with a volume of 95,551 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of GigaMedia from a “sell (d)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has a consensus rating of “Sell”.

GigaMedia Stock Up 14.6%

The business’s 50 day simple moving average is $1.35 and its two-hundred day simple moving average is $1.43. The stock has a market cap of $15.58 million, a P/E ratio of -7.83 and a beta of 0.44.

GigaMedia (NASDAQ:GIGM) last announced its quarterly earnings results on Friday, October 30th. The technology company reported $0.17 EPS for the quarter. The company had revenue of $3.16 million during the quarter. GigaMedia had a negative return on equity of 5.36% and a negative net margin of 43.36%.

About GigaMedia

GigaMedia Limited (NASDAQ: GIGM) is an online games and entertainment company focused primarily on markets in Greater China and Southeast Asia. Through its online entertainment platforms, the company provides casual and social games, including mahjong, poker, card and other multiplayer titles designed for play on computers and mobile devices.

The company operates the FunTown brand, which has historically served users in Taiwan and other Asian markets. Its services are generally supported by digital distribution and online platform features, including account management, virtual goods and other forms of in-game entertainment.

GigaMedia was founded in 1998 and initially developed telecommunications and broadband-related businesses in Taiwan before transitioning toward online games and entertainment.