Yakira Capital Management Inc. Sells 963,626 Shares of GigCapital7 Corp. $GIG

Yakira Capital Management Inc. lessened its stake in shares of GigCapital7 Corp. (NASDAQ:GIG) by 59.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 643,960 shares of the company’s stock after selling 963,626 shares during the period. GigCapital7 accounts for approximately 2.3% of Yakira Capital Management Inc.’s portfolio, making the stock its 14th biggest position. Yakira Capital Management Inc.’s holdings in GigCapital7 were worth $6,787,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GIG. Radcliffe Capital Management L.P. bought a new position in GigCapital7 during the 2nd quarter valued at approximately $163,000. Moore Capital Management LP bought a new position in GigCapital7 during the 3rd quarter valued at approximately $528,000. Geode Capital Management LLC bought a new position in GigCapital7 during the 4th quarter valued at approximately $562,000. Quarry LP bought a new position in GigCapital7 during the 3rd quarter valued at approximately $598,000. Finally, Clear Street Group Inc. bought a new position in GigCapital7 during the 4th quarter valued at approximately $1,162,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered GigCapital7 from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

GigCapital7 Trading Down 3.0%

Shares of GIG opened at $5.01 on Monday. The business’s fifty day simple moving average is $7.57 and its two-hundred day simple moving average is $9.51. GigCapital7 Corp. has a 12 month low of $4.17 and a 12 month high of $12.50. The company has a market cap of $166.82 million, a price-to-earnings ratio of 62.57 and a beta of 0.04.

GigCapital7 (NASDAQ:GIG) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter.

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.