Short Interest in GigaMedia Limited (NASDAQ:GIGM) Decreases By 76.8%

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a large drop in short interest in November. As of November 15th, there was short interest totalling 6,300 shares, a drop of 76.8% from the October 31st total of 27,100 shares. Based on an average trading volume of 13,600 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.1% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of GigaMedia in a report on Tuesday. They issued a “sell” rating for the company.

GigaMedia Price Performance

Shares of NASDAQ GIGM traded up $0.01 during midday trading on Wednesday, hitting $1.46. The stock had a trading volume of 1,793 shares, compared to its average volume of 10,001. The firm has a market cap of $16.14 million, a P/E ratio of -4.03 and a beta of 0.37. GigaMedia has a fifty-two week low of $1.23 and a fifty-two week high of $1.53. The company’s 50-day simple moving average is $1.41 and its 200 day simple moving average is $1.35.

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.