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

GigaMedia Limited (NASDAQ:GIGM) was the target of a large increase in short interest in January. As of January 31st, there was short interest totalling 9,700 shares, an increase of 506.3% from the January 15th total of 1,600 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 17,100 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on GigaMedia in a research note on Thursday, February 6th. They set a “sell” rating on the stock.

GigaMedia Stock Performance

NASDAQ:GIGM traded up $0.03 on Wednesday, hitting $1.51. The stock had a trading volume of 199 shares, compared to its average volume of 17,686. GigaMedia has a 1 year low of $1.23 and a 1 year high of $1.80. The firm’s fifty day simple moving average is $1.54 and its two-hundred day simple moving average is $1.44. The stock has a market cap of $16.69 million, a P/E ratio of -4.19 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.