Yakira Capital Management Inc. Purchases New Shares in GigInternational1, Inc. $GIW

Yakira Capital Management Inc. purchased a new stake in GigInternational1, Inc. (NASDAQ:GIW) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 948,000 shares of the company’s stock, valued at approximately $9,376,000. GigInternational1 comprises about 3.2% of Yakira Capital Management Inc.’s investment portfolio, making the stock its 3rd biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new stake in GigInternational1 in the 4th quarter valued at $47,000. Geode Capital Management LLC purchased a new stake in GigInternational1 in the 4th quarter valued at $193,000. ABC Arbitrage SA purchased a new stake in GigInternational1 in the 4th quarter valued at $396,000. Gritstone Asset Management LLC purchased a new stake in GigInternational1 in the 4th quarter valued at $494,000. Finally, Verition Fund Management LLC purchased a new stake in GigInternational1 in the 4th quarter valued at $865,000. Hedge funds and other institutional investors own 14.01% of the company’s stock.

Analysts Set New Price Targets

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

GigInternational1 Stock Performance

Shares of GigInternational1 stock opened at $10.06 on Monday. GigInternational1, Inc. has a one year low of $9.87 and a one year high of $10.09. The firm has a fifty day moving average of $10.03 and a two-hundred day moving average of $9.97.

GigInternational1 Company Profile

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.