GigCapital2 (NASDAQ:GIX) Issues Quarterly Earnings Results

GigCapital2 (NASDAQ:GIX) released its quarterly earnings data on Thursday. The company reported $0.05 earnings per share (EPS) for the quarter, FiscalAI reports.

GigCapital2 Trading Up 0.1%

Shares of GIX stock traded up $0.01 during trading hours on Friday, hitting $10.05. The stock had a trading volume of 409 shares, compared to its average volume of 96,231. GigCapital2 has a one year low of $9.80 and a one year high of $10.04. The stock’s 50-day moving average price is $10.01 and its two-hundred day moving average price is $9.94.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e)” rating on shares of GigCapital2 in a research note on Wednesday, November 4th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On GigCapital2

Institutional investors and hedge funds have recently made changes to their positions in the business. Lineage Point Capital LP purchased a new stake in shares of GigCapital2 in the second quarter valued at $1,540,000. Harraden Circle Investments LLC purchased a new position in shares of GigCapital2 during the 2nd quarter worth about $47,698,000. First Trust Capital Management L.P. purchased a new position in shares of GigCapital2 during the 3rd quarter worth about $9,870,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of GigCapital2 during the 3rd quarter worth about $459,000. 43.42% of the stock is owned by hedge funds and other institutional investors.

GigCapital2 Company Profile

GigCapital2, Inc. was a special purpose acquisition company (SPAC) formed to pursue a merger, acquisition, or similar business combination. It did not operate a standalone business selling products or services; its stated investment focus included technology, media and telecommunications, as well as aerospace and defense. Led by founder and chief executive officer Avi Katz, GigCapital2 was based in Palo Alto, California. In 2021, it completed a business combination involving UpHealth Holdings and Cloudbreak Health, after which the combined company operated as UpHealth, Inc.