Short Interest in GigaMedia Limited (NASDAQ:GIGM) Drops By 51.5%

GigaMedia Limited (NASDAQ:GIGM) saw a significant drop in short interest in February. As of February 15th, there was short interest totalling 4,700 shares, a drop of 51.5% from the January 31st total of 9,700 shares. Based on an average daily trading volume, of 15,700 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, StockNews.com started coverage on GigaMedia in a research report on Sunday. They set a “sell” rating on the stock.

GigaMedia Price Performance

NASDAQ GIGM traded down $0.02 during trading hours on Friday, reaching $1.53. 9,021 shares of the stock traded hands, compared to its average volume of 15,406. The stock has a 50 day simple moving average of $1.56 and a two-hundred day simple moving average of $1.45. GigaMedia has a 1 year low of $1.23 and a 1 year high of $1.80. The company has a market cap of $16.91 million, a price-to-earnings ratio of -4.25 and a beta of 0.37.

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.