StockNews.com Initiates Coverage on GigaMedia (NASDAQ:GIGM)

Analysts at StockNews.com assumed coverage on shares of GigaMedia (NASDAQ:GIGM) in a research report issued on Tuesday. The brokerage set a “sell” rating on the technology company’s stock.

GigaMedia Stock Performance

NASDAQ:GIGM opened at $1.29 on Tuesday. GigaMedia has a 1 year low of $1.23 and a 1 year high of $1.62. The firm’s fifty day simple moving average is $1.30 and its 200 day simple moving average is $1.36. The firm has a market capitalization of $14.25 million, a PE ratio of -4.03 and a beta of 0.43.

Institutional Trading of GigaMedia

An institutional investor recently bought a new position in GigaMedia stock. Susquehanna International Group LLP purchased a new stake in GigaMedia Limited (NASDAQ:GIGM) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 26,538 shares of the technology company’s stock, valued at approximately $38,000. Susquehanna International Group LLP owned 0.24% of GigaMedia at the end of the most recent reporting period. 13.50% of the stock is owned by institutional investors and hedge funds.

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.