GigaMedia Limited (NASDAQ:GIGM) Short Interest Up 17.7% in June

GigaMedia Limited (NASDAQ:GIGM) saw a significant growth in short interest in June. As of June 15th, there was short interest totalling 11,300 shares, a growth of 17.7% from the May 31st total of 9,600 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 8,600 shares, the short-interest ratio is presently 1.3 days.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on GigaMedia in a report on Thursday. They set a “sell” rating on the stock.

GigaMedia Price Performance

GigaMedia stock opened at $1.30 on Friday. The business has a 50 day moving average of $1.33 and a 200-day moving average of $1.34. GigaMedia has a 1 year low of $1.23 and a 1 year high of $1.56. The company has a market capitalization of $14.37 million, a P/E ratio of -3.51 and a beta of 0.39.

GigaMedia (NASDAQ:GIGM) last posted its earnings results on Friday, May 3rd. The technology company reported ($0.08) earnings per share for the quarter. The business had revenue of $0.73 million for the quarter. GigaMedia had a negative return on equity of 8.94% and a negative net margin of 109.81%.

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.