GigaMedia (NASDAQ:GIGM) Stock Passes Above 200 Day Moving Average – What’s Next?

GigaMedia Limited (NASDAQ:GIGM)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.42 and traded as high as $1.58. GigaMedia shares last traded at $1.58, with a volume of 9,324 shares.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of GigaMedia in a research note on Wednesday. They set a “sell” rating for the company.

GigaMedia Stock Down 1.3 %

The company’s fifty day moving average price is $1.53 and its 200 day moving average price is $1.42. The company has a market capitalization of $17.46 million, a P/E ratio of -4.39 and a beta of 0.37.

GigaMedia (NASDAQ:GIGM) last issued its earnings results on Wednesday, October 30th. The technology company reported ($0.03) earnings per share for the quarter. The company had revenue of $0.77 million during the quarter. GigaMedia had a negative net margin of 126.94% and a negative return on equity of 9.19%.

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.