GigaMedia (NASDAQ:GIGM) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of GigaMedia (NASDAQ:GIGM) in a research note released on Tuesday. The firm issued a sell rating on the technology company’s stock.

GigaMedia Stock Performance

Shares of NASDAQ GIGM opened at $1.31 on Tuesday. The stock has a market cap of $14.42 million, a PE ratio of -4.08 and a beta of 0.43. GigaMedia has a fifty-two week low of $1.23 and a fifty-two week high of $1.62. The stock has a fifty day moving average of $1.30 and a 200-day moving average of $1.36.

Hedge Funds Weigh In On GigaMedia

An institutional investor recently bought a new position in GigaMedia stock. Susquehanna International Group LLP bought a new position in shares of GigaMedia Limited (NASDAQ:GIGM) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 26,538 shares of the technology company’s stock, valued at approximately $38,000. Susquehanna International Group LLP owned approximately 0.24% of GigaMedia as of its most recent SEC filing. Hedge funds and other institutional investors own 13.50% of the company’s stock.

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.