GigCapital7 Corp. (NASDAQ:GIG) Short Interest Down 43.7% in February

GigCapital7 Corp. (NASDAQ:GIG) was the target of a large decline in short interest in February. As of February 13th, there was short interest totaling 20,932 shares, a decline of 43.7% from the January 29th total of 37,157 shares. Based on an average daily trading volume, of 299,969 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 299,969 shares, the short-interest ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GigCapital7 in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

GigCapital7 Price Performance

Shares of GIG stock remained flat at $10.60 during trading hours on Friday. 115,340 shares of the stock were exchanged, compared to its average volume of 219,662. The stock has a 50 day simple moving average of $10.56 and a two-hundred day simple moving average of $10.57. The firm has a market capitalization of $353.30 million, a price-to-earnings ratio of 117.78 and a beta of 0.05. GigCapital7 has a one year low of $10.08 and a one year high of $12.50.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. TENOR CAPITAL MANAGEMENT Co. L.P. raised its position in shares of GigCapital7 by 12.1% in the fourth quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 1,894,982 shares of the company’s stock worth $19,973,000 after buying an additional 204,846 shares in the last quarter. Highbridge Capital Management LLC bought a new position in GigCapital7 in the 4th quarter worth about $19,799,000. Wolverine Asset Management LLC raised its holdings in shares of GigCapital7 by 51.7% in the 3rd quarter. Wolverine Asset Management LLC now owns 890,035 shares of the company’s stock valued at $9,390,000 after acquiring an additional 303,330 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of GigCapital7 by 441.5% during the 4th quarter. Toronto Dominion Bank now owns 676,300 shares of the company’s stock valued at $7,128,000 after acquiring an additional 551,410 shares during the last quarter. Finally, Radcliffe Capital Management L.P. boosted its position in shares of GigCapital7 by 3,240.8% during the 3rd quarter. Radcliffe Capital Management L.P. now owns 523,973 shares of the company’s stock valued at $5,528,000 after acquiring an additional 508,289 shares during the last 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.