GigaMedia Limited (NASDAQ:GIGM) Short Interest Up 154.5% in September

GigaMedia Limited (NASDAQ:GIGM) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 28,000 shares, a growth of 154.5% from the August 31st total of 11,000 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily trading volume, of 13,200 shares, the days-to-cover ratio is currently 2.1 days. Based on an average daily trading volume, of 13,200 shares, the days-to-cover ratio is currently 2.1 days. Currently, 0.5% of the shares of the company are sold short.

Institutional Investors Weigh In On GigaMedia

An institutional investor recently raised its position in GigaMedia stock. Osaic Holdings Inc. raised its holdings in shares of GigaMedia Limited (NASDAQ:GIGM) by 29.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 169,233 shares of the technology company’s stock after purchasing an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned approximately 1.53% of GigaMedia worth $242,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 13.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GigaMedia in a report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

GigaMedia Stock Up 1.8%

NASDAQ GIGM opened at $1.68 on Friday. The company has a market cap of $18.56 million, a PE ratio of -33.60 and a beta of 0.37. GigaMedia has a 52 week low of $1.33 and a 52 week high of $1.89. The firm’s 50-day simple moving average is $1.61 and its two-hundred day simple moving average is $1.54.

GigaMedia (NASDAQ:GIGM) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $0.08 EPS for the quarter. The business had revenue of $0.87 million for the quarter. GigaMedia had a negative net margin of 19.50% and a negative return on equity of 1.57%.

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.