GigInternational1, Inc. (NASDAQ:GIW – Get Free Report) traded up 0.1% on Thursday. The company traded as high as $10.21 and last traded at $10.20. 184,410 shares traded hands during trading, an increase of 146% from the average daily volume of 74,825 shares. The stock had previously closed at $10.19.
Analyst Ratings Changes
Separately, Weiss Ratings raised GigInternational1 from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock has an average rating of “Sell”.
Check Out Our Latest Analysis on GIW
GigInternational1 Stock Up 0.1%
The firm’s 50 day moving average is $10.17 and its 200-day moving average is $10.07.
GigInternational1 (NASDAQ:GIW – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Periscope Capital Inc. acquired a new stake in shares of GigInternational1 during the 3rd quarter valued at about $2,256,000. Gabelli Funds LLC acquired a new position in GigInternational1 in the 1st quarter worth about $2,545,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in GigInternational1 in the 1st quarter worth about $2,990,000. Sona Asset Management US LLC acquired a new position in GigInternational1 in the 1st quarter worth about $4,152,000. Finally, First Trust Capital Management L.P. acquired a new position in GigInternational1 in the 3rd quarter worth about $4,582,000. Institutional investors and hedge funds own 14.01% of the company’s stock.
About GigInternational1
GigInternational1, Inc (NASDAQ: GIW) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Its mandate may include a merger, share exchange, asset acquisition, reorganization or similar transaction.
Unlike an operating company, GigInternational1 does not have established products, services or commercial operations of its own. Before completing a business combination, its activities primarily involve evaluating potential acquisition targets, conducting due diligence and seeking shareholder approval for a proposed transaction.
The company has been associated with the GigCapital Global platform, which sponsors companies created to pursue technology-focused combinations.
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