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

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 5,400 shares, a growth of 145.5% from the July 31st total of 2,200 shares. Based on an average daily trading volume, of 7,100 shares, the short-interest ratio is currently 0.8 days. Currently, 0.1% of the company’s stock are short sold.

GigaMedia Price Performance

NASDAQ GIGM remained flat at $1.32 on Thursday. The company’s stock had a trading volume of 1,936 shares, compared to its average volume of 8,538. The firm has a 50-day simple moving average of $1.30 and a 200 day simple moving average of $1.31. GigaMedia has a 1 year low of $1.23 and a 1 year high of $1.50. The company has a market capitalization of $14.59 million, a P/E ratio of -3.57 and a beta of 0.39.

GigaMedia (NASDAQ:GIGM) last issued its earnings results on Wednesday, July 31st. The technology company reported ($0.06) EPS for the quarter. GigaMedia had a negative net margin of 121.14% and a negative return on equity of 9.33%. The firm had revenue of $0.72 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on GigaMedia in a research report on Thursday, August 22nd. They set a “sell” rating on the stock.

About GigaMedia

GigaMedia Limited, together with its subsidiaries, provides digital entertainment services in Taiwan and Hong Kong. It operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games through branded platform. The company offers MahJong, a traditional Chinese tile-based game; casual card and table games; online card games; and chance-based games, including bingo, lotto, horse racing, Sic-Bo, slots, and various casual games.