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

GigaMedia Limited (NASDAQ:GIGM) saw a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 1,600 shares, a decline of 78.7% from the December 31st total of 7,500 shares. Based on an average trading volume of 18,000 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

GigaMedia Price Performance

Shares of GIGM traded up $0.02 during midday trading on Thursday, reaching $1.54. The stock had a trading volume of 1,339 shares, compared to its average volume of 24,049. GigaMedia has a 1-year low of $1.23 and a 1-year high of $1.80. The company has a market cap of $16.96 million, a price-to-earnings ratio of -4.26 and a beta of 0.37. The company’s fifty day simple moving average is $1.53 and its two-hundred day simple moving average is $1.42.

GigaMedia (NASDAQ:GIGM) last released its quarterly earnings results on Wednesday, October 30th. The technology company reported ($0.03) EPS for the quarter. GigaMedia had a negative return on equity of 9.19% and a negative net margin of 126.94%. The company had revenue of $0.77 million for the quarter.

Wall Street Analysts Forecast Growth

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

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.