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

StockNews.com started coverage on shares of GigaMedia (NASDAQ:GIGM – Free Report) in a research note published on Thursday. The brokerage issued a sell rating on the technology company’s stock.

GigaMedia Stock Down 1.8 %

Shares of NASDAQ:GIGM opened at $1.38 on Thursday. The company has a market capitalization of $15.19 million, a price-to-earnings ratio of -10.58 and a beta of 0.33. The company has a 50 day moving average of $1.37 and a two-hundred day moving average of $1.41. GigaMedia has a 52-week low of $1.15 and a 52-week high of $1.89.

Hedge Funds Weigh In On GigaMedia

A hedge fund recently bought a new stake in GigaMedia stock. Susquehanna International Group LLP bought a new stake in shares of GigaMedia Limited (NASDAQ:GIGM – Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 26,538 shares of the technology company’s stock, valued at approximately $38,000. Susquehanna International Group LLP owned about 0.24% of GigaMedia at the end of the most recent quarter.

About GigaMedia

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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.