GigCapital7 Corp. (NASDAQ:GIG) Short Interest Update

GigCapital7 Corp. (NASDAQ:GIG) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 35,948 shares, a decrease of 24.0% from the December 31st total of 47,311 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 129,292 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 129,292 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are short sold.

GigCapital7 Trading Down 0.2%

NASDAQ:GIG traded down $0.02 on Tuesday, reaching $10.57. 19,885 shares of the stock traded hands, compared to its average volume of 159,947. The company has a market capitalization of $352.30 million, a price-to-earnings ratio of 117.44 and a beta of 0.05. GigCapital7 has a 12 month low of $10.06 and a 12 month high of $12.50. The company’s fifty day simple moving average is $10.53 and its 200 day simple moving average is $10.54.

GigCapital7 (NASDAQ:GIG) last posted its quarterly earnings results on Friday, November 14th. The company reported ($0.01) EPS for the quarter.

Institutional Trading of GigCapital7

A number of institutional investors and hedge funds have recently modified their holdings of GIG. Radcliffe Capital Management L.P. purchased a new position in shares of GigCapital7 in the second quarter worth $163,000. Moore Capital Management LP bought a new stake in GigCapital7 in the 3rd quarter worth about $528,000. Quarry LP purchased a new position in GigCapital7 in the 3rd quarter worth about $598,000. Wealthspring Capital LLC bought a new position in GigCapital7 during the 2nd quarter valued at about $832,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in GigCapital7 during the 2nd quarter valued at about $5,270,000.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GigCapital7 in a research note on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

GigCapital7 Company Profile

GigCapital7, Inc (NASDAQ: GIG) is a special purpose acquisition company incorporated in Delaware in 2021. As a blank check corporation, it was formed solely to effect a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company completed its initial public offering in March 2021.

GigCapital7 has not generated revenue from operations and currently holds its offering proceeds in trust while it evaluates potential targets.