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

GigaMedia Limited (NASDAQ:GIGM) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 26,100 shares, a growth of 1,034.8% from the September 15th total of 2,300 shares. Based on an average daily volume of 8,500 shares, the days-to-cover ratio is currently 3.1 days. Approximately 0.4% of the company’s shares are short sold.

GigaMedia Stock Performance

Shares of GIGM stock remained flat at $1.36 during trading hours on Friday. The stock had a trading volume of 3,697 shares, compared to its average volume of 8,967. GigaMedia has a one year low of $1.23 and a one year high of $1.50. The firm has a market capitalization of $15.03 million, a price-to-earnings ratio of -3.53 and a beta of 0.37. The firm’s fifty day simple moving average is $1.34 and its 200 day simple moving average is $1.32.

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

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of GigaMedia in a research note on Wednesday. They set a “sell” rating for the company.

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.