Rivernorth Capital Management LLC bought a new stake in GigInternational1, Inc. (NASDAQ:GIW – Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 599,512 shares of the company’s stock, valued at approximately $5,977,000.
Other large investors have also recently modified their holdings of the company. Glazer Capital LLC purchased a new stake in GigInternational1 in the fourth quarter valued at about $21,514,000. AQR Arbitrage LLC purchased a new stake in shares of GigInternational1 during the fourth quarter worth about $16,761,000. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in shares of GigInternational1 during the fourth quarter valued at about $14,835,000. Berkley W R Corp purchased a new position in shares of GigInternational1 in the 4th quarter valued at approximately $12,753,000. Finally, Westchester Capital Management LLC purchased a new position in shares of GigInternational1 in the 4th quarter valued at approximately $10,681,000. Institutional investors own 14.01% of the company’s stock.
Wall Street Analyst Weigh In
Separately, Weiss Ratings raised shares of GigInternational1 from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, May 18th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, GigInternational1 presently has an average rating of “Sell”.
GigInternational1 Price Performance
Shares of GIW opened at $10.10 on Wednesday. The stock has a 50-day moving average of $10.07 and a two-hundred day moving average of $10.02. GigInternational1, Inc. has a one year low of $9.87 and a one year high of $10.11.
GigInternational1 (NASDAQ:GIW – Get Free Report) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.05 earnings per share for the quarter.
GigInternational1 Company Profile
GigInternational1, Inc, does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to focus its search on companies in the technology, media, telecommunications, aerospace and defense, and mobility and semiconductor industries. The company was incorporated in 2021 and is based in Palo Alto, California.
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