GigCapital2, Inc. (NASDAQ:GIX) Shares Shorted: Short Interest Up 111.1% in September

GigCapital2, Inc. (NASDAQ:GIX) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totaling 6,549 shares, an increase of 111.1% from the August 31st total of 3,102 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 13,334 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of GigCapital2

A hedge fund recently bought a new stake in GigCapital2 stock. Harraden Circle Investments LLC purchased a new position in shares of GigCapital2, Inc. (NASDAQ:GIX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,803,390 shares of the company’s stock, valued at approximately $47,698,000. GigCapital2 makes up 4.7% of Harraden Circle Investments LLC’s holdings, making the stock its biggest holding. Harraden Circle Investments LLC owned about 24.24% of GigCapital2 at the end of the most recent reporting period. 43.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings assumed coverage on GigCapital2 in a research report on Tuesday, August 11th. They set a “sell (e)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

GigCapital2 Stock Performance

GigCapital2 stock remained flat at $10.01 during trading hours on Tuesday. 569 shares of the company’s stock traded hands, compared to its average volume of 106,198. GigCapital2 has a 52-week low of $9.80 and a 52-week high of $10.04. The business’s 50 day moving average is $9.98.

GigCapital2 Company Profile

GigCapital2, Inc was a special purpose acquisition company (SPAC) formed to identify and combine with a business in the technology, media and telecommunications sectors. Unlike an operating company, GigCapital2 did not develop or sell its own products or services before completing a business combination. Its activities centered on raising capital through an initial public offering, evaluating potential acquisition targets and negotiating a merger.

GigCapital2 completed its business combination with UpHealth Holdings, Inc and Cloudbreak Health, LLC in 2021.