Periscope Capital Inc. Invests $3.55 Million in GigInternational1, Inc. $GIW

Periscope Capital Inc. bought a new position in GigInternational1, Inc. (NASDAQ:GIW) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 358,900 shares of the company’s stock, valued at approximately $3,551,000.

Several other large investors have also made changes to their positions in the company. BNP Paribas Financial Markets bought a new stake in shares of GigInternational1 in the 4th quarter worth about $4,779,000. Wolverine Asset Management LLC bought a new stake in shares of GigInternational1 in the 4th quarter worth about $3,824,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of GigInternational1 in the 4th quarter worth about $2,968,000. Gritstone Asset Management LLC bought a new stake in shares of GigInternational1 in the 4th quarter worth about $494,000. Finally, ABC Arbitrage SA bought a new stake in shares of GigInternational1 in the 4th quarter worth about $396,000. 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 report on Monday, May 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

GigInternational1 Trading Up 0.1%

Shares of NASDAQ GIW opened at $10.05 on Friday. The firm’s 50-day simple moving average is $10.01 and its 200 day simple moving average is $9.96. GigInternational1, Inc. has a 12-month low of $9.87 and a 12-month high of $10.06.

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.