Short Interest in GigaMedia Limited (NASDAQ:GIGM) Drops By 35.3%

GigaMedia Limited (NASDAQ:GIGM) saw a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 2,649 shares, a drop of 35.3% from the July 30th total of 4,092 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 7,691 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

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 data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. raised its holdings in GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 169,233 shares of the technology company’s stock after acquiring an additional 38,521 shares during the period. Osaic Holdings Inc. owned about 1.53% of GigaMedia worth $242,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 13.50% of the company’s stock.

GigaMedia Stock Down 3.8%

NASDAQ GIGM traded down $0.06 during trading on Tuesday, reaching $1.41. 5,878 shares of the stock traded hands, compared to its average volume of 5,740. GigaMedia has a fifty-two week low of $1.29 and a fifty-two week high of $1.89. The firm has a market cap of $15.58 million, a price-to-earnings ratio of -7.83 and a beta of 0.49. The stock’s 50-day moving average price is $1.42 and its 200 day moving average price is $1.45.

GigaMedia (NASDAQ:GIGM) last posted its earnings results on Friday, July 31st. The technology company reported $0.05 earnings per share for the quarter. The company had revenue of $2.13 million for the quarter. GigaMedia had a negative net margin of 43.36% and a negative return on equity of 5.36%.

About GigaMedia

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.