Highbridge Capital Management LLC Buys New Stake in GigCapital7 Corp. $GIG

Highbridge Capital Management LLC bought a new stake in GigCapital7 Corp. (NASDAQ:GIG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,878,437 shares of the company’s stock, valued at approximately $19,799,000. Highbridge Capital Management LLC owned approximately 5.64% of GigCapital7 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of GIG. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in shares of GigCapital7 in the second quarter valued at $5,270,000. Radcliffe Capital Management L.P. purchased a new position in shares of GigCapital7 in the second quarter valued at $163,000. Moore Capital Management LP purchased a new position in shares of GigCapital7 in the third quarter valued at $528,000. Quarry LP purchased a new position in shares of GigCapital7 in the third quarter valued at $598,000. Finally, Geode Capital Management LLC purchased a new position in shares of GigCapital7 in the fourth quarter valued at $562,000.

Wall Street Analysts Forecast Growth

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

GigCapital7 Stock Down 3.0%

NASDAQ GIG opened at $5.01 on Friday. The company has a fifty day moving average of $8.13 and a two-hundred day moving average of $9.71. The firm has a market capitalization of $166.82 million, a price-to-earnings ratio of 62.57 and a beta of 0.04. GigCapital7 Corp. has a 52 week low of $4.17 and a 52 week high of $12.50.

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