GigInternational1, Inc. (NASDAQ:GIW) Stock Short Interest Report for October

GigInternational1, Inc. (NASDAQ:GIW) saw a significant decline in short interest in October. As of October 30th, there was short interest totaling 332 shares, a decline of 68.1% from the October 15th total of 1,042 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 25,290 shares, the days-to-cover ratio is currently 0.0 days.

GigInternational1 Price Performance

NASDAQ:GIW traded up $0.01 on Friday, reaching $10.22. The stock had a trading volume of 551 shares, compared to its average volume of 73,486. GigInternational1 has a 1-year low of $9.87 and a 1-year high of $10.22. The stock has a fifty day moving average price of $10.18 and a 200-day moving average price of $10.08.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Stoic Point Capital Management LLC bought a new stake in GigInternational1 during the 3rd quarter worth approximately $403,000. Periscope Capital Inc. bought a new position in GigInternational1 in the 3rd quarter valued at $2,256,000. Gabelli Funds LLC acquired a new position in GigInternational1 in the first quarter worth $2,545,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in GigInternational1 in the first quarter worth $2,990,000. Finally, Sona Asset Management US LLC acquired a new position in GigInternational1 in the first quarter worth $4,152,000. Institutional investors own 14.01% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of GigInternational1 in a report on Wednesday. One investment analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has a consensus rating of “Sell”.

GigInternational1 Company Profile

GigInternational1, Inc. (NASDAQ: GIW) was a special purpose acquisition company, or SPAC, formed to pursue a merger, acquisition, or similar business combination with an operating company. The company did not itself sell products or provide commercial services. It described its intended search focus as technology, media and telecommunications businesses, including areas such as automotive, aviation and energy. GigInternational1 was sponsored by GigCapital Global, and its activities centered on identifying and evaluating a potential business combination rather than operating across specific customer markets or geographies.