GigaMedia Limited (NASDAQ:GIGM) Shares Shorted: Short Interest Down 94.7% in October

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant decline in short interest in October. As of October 30th, there was short interest totaling 8 shares, a decline of 94.7% from the October 15th total of 152 shares. Based on an average daily volume of 12,791 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of GigaMedia in a report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

GigaMedia Stock Up 1.4%

GIGM traded up $0.02 during trading on Tuesday, reaching $1.39. The company’s stock had a trading volume of 19,923 shares, compared to its average volume of 6,557. The company has a market cap of $15.35 million, a price-to-earnings ratio of 17.36 and a beta of 0.41. The firm has a fifty day simple moving average of $1.34 and a two-hundred day simple moving average of $1.43. GigaMedia has a 1 year low of $1.11 and a 1 year high of $1.63.

GigaMedia (NASDAQ:GIGM) last posted its quarterly earnings results on Friday, October 30th. The technology company reported $0.17 earnings per share (EPS) for the quarter. GigaMedia had a negative return on equity of 0.25% and a net margin of 12.95%. The business had revenue of $3.16 million during the quarter.

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.