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

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a significant decline in short interest in February. As of February 15th, there was short interest totalling 4,700 shares, a decline of 51.5% from the January 31st total of 9,700 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 15,700 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on GigaMedia in a report on Saturday, February 22nd. They set a “sell” rating for the company.

GigaMedia Stock Performance

Shares of NASDAQ GIGM traded down $0.02 during midday trading on Friday, hitting $1.53. 9,021 shares of the stock traded hands, compared to its average volume of 15,406. The company has a market cap of $16.91 million, a PE ratio of -4.25 and a beta of 0.37. GigaMedia has a one year low of $1.23 and a one year high of $1.80. The business has a 50 day moving average price of $1.56 and a two-hundred day moving average price of $1.45.

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.