GigaMedia Limited (NASDAQ:GIGM) stock observed trading -14.61% off 52-week high price. On the other end, the stock has been noted 19.37% away from low price over the last 52-weeks. The stock disclosed a move of -1.77% away from 50 day moving average and -5.63% away from 200 day moving average. Moving closer, we can see that shares have been trading 4.36% off 20-day moving average. It has market cap of $25.95M.
On April 7, 2020, GigaMedia Limited (NASDAQ:GIGM) disclosed its unaudited financial results for the fourth quarter and full year of 2019.
Highlights for Year Ended December 31, 2019
For 2019, GigaMedia reported revenues of $6.6 million, with a gross profit of $3.6 million, an operating loss of $2.9 million and the net loss of $1.5 million.
In spite of the mild decrease in revenues, said GigaMedia CEO James Huang, in 2019 we continued improving our cost structure through strategic cost management, and applied effective KPIs to drive performance of departments across our Company.
Compared to the prior year, the 2019 results exhibited overall improvements. Our gross margin rate has risen by 4.4% to 53.9% from 49.5% in 2018, and consequently the gross profit was even slightly higher than $3.5 million in the prior year, in spite of the decrease in revenues. The loss from operations was also cut by 40.1% from $4.8 million in 2018, and the net loss approximately halved.
In the past year of 2019, we kept emphasizing on developing our in-house offerings, continued GigaMedia CEO James Huang, and in the fourth quarter, our new mobile platform of casual games passed the closed and open beta testing tracks. It is now in trial operations, through which we are establishing marketing rhythm, expanding product lines, and strengthening customer’s loyalty.
The Taiwan based company GigaMedia Limited moved with change of -1.30% to $2.28 with the total traded volume of 28782 shares in recent session versus to an average volume of 26.85K shares. The stock was observed in the 5 days activity at 0.88%. The one month performance of stock was 3.64%. GIGM’s shares are at 9.09% for the quarter and driving a -8.80% return over the course of the past year and is now at -5.39% since this point in 2018. Right now the stock beta is 0.34. The average volatility for the week and month was at 3.16% and 5.34% respectively. There are 11.38M shares outstanding and 7.09M shares are floated in market.