GigaMedia (NASDAQ:GIGM) Stock Passes Above 200 Day Moving Average – Here’s Why

GigaMedia Limited (NASDAQ:GIGM) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.54 and traded as high as $1.60. GigaMedia shares last traded at $1.5904, with a volume of 960 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GigaMedia in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

GigaMedia Price Performance

The company has a market capitalization of $17.58 million, a PE ratio of -31.81 and a beta of 0.39. The company’s fifty day moving average is $1.67 and its 200-day moving average is $1.54.

GigaMedia (NASDAQ:GIGM) last announced its earnings results on Thursday, October 30th. The technology company reported ($0.09) earnings per share (EPS) for the quarter. GigaMedia had a negative net margin of 19.50% and a negative return on equity of 1.57%. The company had revenue of $0.92 million for the quarter.

Hedge Funds Weigh In On GigaMedia

A hedge fund recently raised its stake in GigaMedia stock. Osaic Holdings Inc. raised its position in shares of GigaMedia Limited (NASDAQ:GIGM) by 29.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 169,233 shares of the technology company’s stock after buying an additional 38,521 shares during the quarter. Osaic Holdings Inc. owned about 1.53% of GigaMedia worth $242,000 at the end of the most recent reporting period. 13.50% of the stock is owned by institutional investors and hedge funds.

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.