GigaMedia Limited (NASDAQ:GIGM) Short Interest Down 62.9% in September

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 2,300 shares, a drop of 62.9% from the August 31st total of 6,200 shares. Based on an average daily volume of 6,100 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

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

GigaMedia Stock Performance

GIGM stock remained flat at $1.40 during midday trading on Wednesday. 5,339 shares of the company traded hands, compared to its average volume of 8,415. The firm has a market capitalization of $15.47 million, a price-to-earnings ratio of -3.78 and a beta of 0.37. The company’s fifty day moving average is $1.32 and its two-hundred day moving average is $1.31. GigaMedia has a 52 week low of $1.23 and a 52 week high of $1.50.

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

GigaMedia Company Profile

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.