GigaMedia Limited (NASDAQ:GIGM) Sees Significant Decline in Short Interest

GigaMedia Limited (NASDAQ:GIGM) was the recipient of a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 4,700 shares, a decrease of 51.5% from the January 31st total of 9,700 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 15,700 shares, the days-to-cover ratio is currently 0.3 days.

GigaMedia Stock Performance

NASDAQ:GIGM traded down $0.02 during trading on Friday, reaching $1.53. The company’s stock had a trading volume of 9,021 shares, compared to its average volume of 15,406. The firm has a market cap of $16.91 million, a price-to-earnings ratio of -4.25 and a beta of 0.37. The firm has a 50 day moving average of $1.56 and a 200-day moving average of $1.45. GigaMedia has a 12 month low of $1.23 and a 12 month high of $1.80.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on GigaMedia in a research note on Saturday, February 22nd. They issued a “sell” rating for the company.

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.