Short Interest in GigaMedia Limited (NASDAQ:GIGM) Declines By 78.7%

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

GigaMedia Stock Performance

Shares of GIGM stock traded up $0.02 during mid-day trading on Thursday, reaching $1.54. The company’s 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 P/E ratio of -4.26 and a beta of 0.37. The firm’s 50-day moving average is $1.53 and its two-hundred day moving average is $1.42.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of GigaMedia in a research report on Wednesday. They issued a “sell” rating on the stock.

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.