GigaMedia (NASDAQ:GIGM) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of GigaMedia (NASDAQ:GIGM – Get Rating) in a research report report published on Friday. The firm issued a sell rating on the technology company’s stock.

GIGM stock traded down $0.02 during midday trading on Friday, hitting $1.52. The company’s stock had a trading volume of 47,845 shares, compared to its average volume of 22,287. GigaMedia has a 52-week low of $1.49 and a 52-week high of $3.34. The firm has a 50-day simple moving average of $1.73 and a 200-day simple moving average of $2.07.

An institutional investor recently bought a new position in GigaMedia stock. Susquehanna International Group LLP acquired a new position in shares of GigaMedia Limited (NASDAQ:GIGM – Get Rating) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 16,054 shares of the technology company’s stock, valued at approximately $36,000. Susquehanna International Group LLP owned about 0.15% of GigaMedia at the end of the most recent quarter. 3.61% of the stock is currently owned by hedge funds and other institutional investors.

GigaMedia Company Profile (Get Rating)

GigaMedia Limited 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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