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

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 4,700 shares, a decrease of 51.5% from the January 31st total of 9,700 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 15,700 shares, the short-interest ratio is currently 0.3 days.

GigaMedia Price Performance

GIGM traded up $0.01 during trading on Monday, hitting $1.55. The company had a trading volume of 3,898 shares, compared to its average volume of 15,117. GigaMedia has a 1-year low of $1.23 and a 1-year high of $1.80. The company has a market cap of $17.13 million, a PE ratio of -4.31 and a beta of 0.37. The business has a 50-day moving average of $1.56 and a 200-day moving average of $1.45.

Wall Street Analysts Forecast Growth

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

About GigaMedia

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.