Short Interest in GigaMedia Limited (NASDAQ:GIGM) Drops By 76.8%

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 6,300 shares, a decline of 76.8% from the October 31st total of 27,100 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 13,600 shares, the short-interest ratio is currently 0.5 days.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on GigaMedia in a report on Tuesday. They set a “sell” rating on the stock.

GigaMedia Stock Up 1.4 %

Shares of GIGM stock traded up $0.02 during trading on Friday, reaching $1.48. The company’s stock had a trading volume of 1,717 shares, compared to its average volume of 9,964. GigaMedia has a one year low of $1.23 and a one year high of $1.53. The business has a fifty day moving average price of $1.42 and a 200-day moving average price of $1.35. The company has a market cap of $16.35 million, a price-to-earnings ratio of -4.11 and a beta of 0.37.

GigaMedia Company Profile

GigaMedia Limited, together with its subsidiaries, provides digital entertainment services in Taiwan, Hong Kong, and Macau. The company owns and operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games, as well as provides services such as player clubs, tournaments, avatars, friends and family messenger and online chatting systems, customer service, mobile platform, and customer platform.