GigCapital7 Corp. (NASDAQ:GIG) Short Interest Update

GigCapital7 Corp. (NASDAQ:GIG) was the recipient of a large decrease in short interest in the month of January. As of January 15th, there was short interest totaling 35,948 shares, a decrease of 24.0% from the December 31st total of 47,311 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 129,292 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 129,292 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are sold short.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On GigCapital7

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Radcliffe Capital Management L.P. purchased a new stake in GigCapital7 during the second quarter valued at about $163,000. Moore Capital Management LP bought a new stake in shares of GigCapital7 in the third quarter valued at approximately $528,000. Quarry LP purchased a new stake in shares of GigCapital7 during the 3rd quarter valued at approximately $598,000. Wealthspring Capital LLC bought a new position in GigCapital7 in the 2nd quarter worth approximately $832,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in GigCapital7 in the 2nd quarter worth approximately $5,270,000.

GigCapital7 Trading Down 0.2%

Shares of NASDAQ:GIG traded down $0.02 during mid-day trading on Tuesday, reaching $10.57. The company had a trading volume of 19,885 shares, compared to its average volume of 159,947. GigCapital7 has a one year low of $10.06 and a one year high of $12.50. The company’s 50-day moving average price is $10.53 and its 200-day moving average price is $10.54.

GigCapital7 (NASDAQ:GIG) last announced its quarterly earnings data on Friday, November 14th. The company reported ($0.01) earnings per share for the 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.