Short Interest in GigInternational1, Inc. (NASDAQ:GIW) Expands By 595.2%

GigInternational1, Inc. (NASDAQ:GIW) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 6,076 shares, a growth of 595.2% from the April 30th total of 874 shares. Based on an average trading volume of 32,177 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of GigInternational1 from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Quarry LP bought a new stake in shares of GigInternational1 in the 4th quarter worth $47,000. Geode Capital Management LLC bought a new position in shares of GigInternational1 during the 4th quarter valued at approximately $193,000. Lineage Point Capital LP purchased a new position in shares of GigInternational1 in the fourth quarter valued at $346,000. Stoic Point Capital Management LLC purchased a new position in shares of GigInternational1 in the fourth quarter valued at $391,000. Finally, ABC Arbitrage SA bought a new stake in GigInternational1 in the fourth quarter worth $396,000. 14.01% of the stock is owned by hedge funds and other institutional investors.

GigInternational1 Stock Up 0.1%

Shares of GIW stock opened at $10.05 on Friday. The business’s fifty day moving average is $10.01 and its 200 day moving average is $9.96. GigInternational1 has a twelve month low of $9.87 and a twelve month high of $10.06.

About GigInternational1

GigInternational1, Inc, does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to focus its search on companies in the technology, media, telecommunications, aerospace and defense, and mobility and semiconductor industries. The company was incorporated in 2021 and is based in Palo Alto, California.