GigInternational1, Inc. (NASDAQ:GIW – Get Free Report) shares dropped 0.1% during mid-day trading on Friday . The stock traded as low as $10.15 and last traded at $10.15. 255,657 shares changed hands during mid-day trading, an increase of 245% from the average daily volume of 74,177 shares. The stock had previously closed at $10.16.
Analysts Set New Price Targets
Separately, Weiss Ratings upgraded GigInternational1 from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.
Get Our Latest Stock Analysis on GIW
GigInternational1 Price Performance
GigInternational1 (NASDAQ:GIW – Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.05 EPS for the quarter.
Hedge Funds Weigh In On GigInternational1
Institutional investors and hedge funds have recently modified their holdings of the business. Rivernorth Capital Management LLC acquired a new stake in shares of GigInternational1 during the 1st quarter worth approximately $5,977,000. Sona Asset Management US LLC bought a new position in GigInternational1 during the first quarter worth $4,152,000. Gabelli Funds LLC bought a new position in GigInternational1 during the first quarter worth $2,545,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in GigInternational1 in the first quarter worth $2,990,000. Finally, Lineage Point Capital LP acquired a new stake in GigInternational1 in the fourth quarter worth $346,000. 14.01% of the stock is currently owned by institutional investors.
GigInternational1 Company Profile
GigInternational1, Inc (NASDAQ: GIW) is a special purpose acquisition company (SPAC), also known as a blank-check company. Its primary objective is to identify and complete a merger, share exchange, asset acquisition, reorganization or similar business combination with one or more operating companies.
Unlike an operating business, GigInternational1 does not have established products, services or geographic markets of its own. Before completing a business combination, its activities generally consist of evaluating potential target companies, conducting due diligence and negotiating transaction terms.
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