GigaMedia (NASDAQ:GIGM) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

GigaMedia Limited (NASDAQ:GIGM)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.37 and traded as high as $1.60. GigaMedia shares last traded at $1.58, with a volume of 42,721 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of GigaMedia in a research note on Saturday. They issued a “sell” rating on the stock.

GigaMedia Stock Performance

The company has a market capitalization of $17.46 million, a price-to-earnings ratio of -4.39 and a beta of 0.38. The firm’s 50 day simple moving average is $1.46 and its 200-day simple moving average is $1.37.

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.