GigCapital7 (NASDAQ:GIG) Stock Price Up 0.2% – Here’s What Happened

GigCapital7 Corp. (NASDAQ:GIG)’s share price traded up 0.2% during trading on Thursday . The stock traded as high as $10.57 and last traded at $10.57. 110,614 shares changed hands during trading, an increase of 35% from the average session volume of 82,134 shares. The stock had previously closed at $10.55.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GigCapital7 in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

GigCapital7 Price Performance

The company has a market capitalization of $351.96 million, a price-to-earnings ratio of 117.33 and a beta of 0.05. The firm has a fifty day simple moving average of $10.52 and a 200 day simple moving average of $10.52.

GigCapital7 (NASDAQ:GIG) last announced its earnings results on Friday, November 14th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Institutional Trading of GigCapital7

A number of institutional investors and hedge funds have recently modified their holdings of GIG. Radcliffe Capital Management L.P. purchased a new position in GigCapital7 in the 2nd quarter valued at about $163,000. Wolverine Asset Management LLC boosted its stake in shares of GigCapital7 by 4.0% in the second quarter. Wolverine Asset Management LLC now owns 586,705 shares of the company’s stock worth $6,090,000 after acquiring an additional 22,729 shares during the last quarter. Moore Capital Management LP purchased a new stake in shares of GigCapital7 during the third quarter worth approximately $528,000. Quarry LP acquired a new position in GigCapital7 in the 3rd quarter valued at $598,000. Finally, Wealthspring Capital LLC purchased a new position in GigCapital7 in the 2nd quarter valued at $832,000.

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.