Investment analysts at StockNews.com began coverage on shares of GigaMedia (NASDAQ:GIGM – Get Rating) in a report issued on Monday. The brokerage set a “sell” rating on the technology company’s stock.
GigaMedia Price Performance
GIGM opened at $1.28 on Monday. The business has a 50 day simple moving average of $1.27 and a 200-day simple moving average of $1.48. The stock has a market capitalization of $14.14 million, a P/E ratio of -3.46 and a beta of 0.31. GigaMedia has a 12 month low of $1.12 and a 12 month high of $2.97.
Institutional Trading of GigaMedia
A hedge fund recently bought a new stake in GigaMedia stock. Two Sigma Investments LP purchased a new stake in GigaMedia Limited (NASDAQ:GIGM – Get Rating) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 31,395 shares of the technology company’s stock, valued at approximately $40,000. Two Sigma Investments LP owned 0.28% of GigaMedia at the end of the most recent reporting period. Institutional investors and hedge funds own 4.04% of the company’s stock.
GigaMedia Limited, together with its subsidiaries, provides digital entertainment services in Taiwan and Hong Kong. The company operates FunTown, a digital entertainment portal that offers mobile and browser-based casual games through branded platform. It 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.
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