GigaMedia Limited (NASDAQ:GIGM) Sees Significant Growth in Short Interest

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a large increase in short interest in January. As of January 30th, there was short interest totaling 253 shares, an increase of 53.3% from the January 15th total of 165 shares. Based on an average daily trading volume, of 4,637 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,637 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On GigaMedia

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. increased its stake in GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,233 shares of the technology company’s stock after buying an additional 38,521 shares during the period. Osaic Holdings Inc. owned about 1.53% of GigaMedia worth $242,000 at the end of the most recent reporting period. 13.50% of the stock is owned by institutional investors.

GigaMedia Stock Performance

GigaMedia stock traded down $0.02 during trading on Friday, reaching $1.56. 4,177 shares of the company’s stock were exchanged, compared to its average volume of 6,415. GigaMedia has a 52-week low of $1.38 and a 52-week high of $1.89. The firm has a market cap of $17.22 million, a price-to-earnings ratio of -14.17 and a beta of 0.43. The company’s 50-day moving average is $1.51 and its two-hundred day moving average is $1.57.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GigaMedia in a research note on Monday, December 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

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.