GigCapital7 Corp. (NASDAQ:GIG) Short Interest Update

GigCapital7 Corp. (NASDAQ:GIG) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 47,311 shares, a drop of 28.2% from the December 15th total of 65,866 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 71,303 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 71,303 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GIG. Wolverine Asset Management LLC lifted its position in GigCapital7 by 4.0% during the 2nd 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 in the last quarter. Wealthspring Capital LLC acquired a new position in shares of GigCapital7 during the second quarter worth $832,000. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in shares of GigCapital7 during the second quarter worth $5,270,000. Radcliffe Capital Management L.P. purchased a new position in shares of GigCapital7 in the second quarter valued at $163,000. Finally, Moore Capital Management LP acquired a new stake in GigCapital7 during the 3rd quarter valued at $528,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of GigCapital7 in a research note on Friday, January 9th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

GigCapital7 Price Performance

Shares of GIG traded up $0.02 during mid-day trading on Friday, hitting $10.57. The company had a trading volume of 45,457 shares, compared to its average volume of 99,496. GigCapital7 has a 1-year low of $10.02 and a 1-year high of $12.50. The business’s 50-day simple moving average is $10.51 and its 200-day simple moving average is $10.53.

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

About GigCapital7

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.