Gabelli Funds LLC Takes Position in GigInternational1, Inc. $GIW

Gabelli Funds LLC acquired a new position in GigInternational1, Inc. (NASDAQ:GIW) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 255,300 shares of the company’s stock, valued at approximately $2,545,000. Gabelli Funds LLC owned 0.94% of GigInternational1 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GIW. Quarry LP bought a new stake in GigInternational1 during the 4th quarter valued at approximately $47,000. Geode Capital Management LLC purchased a new position in GigInternational1 in the 4th quarter worth approximately $193,000. Lineage Point Capital LP bought a new position in GigInternational1 in the 4th quarter worth approximately $346,000. Stoic Point Capital Management LLC bought a new position in GigInternational1 in the 4th quarter worth approximately $391,000. Finally, ABC Arbitrage SA purchased a new stake in GigInternational1 during the 4th quarter valued at approximately $396,000. Hedge funds and other 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 equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

GigInternational1 Price Performance

Shares of GigInternational1 stock opened at $10.12 on Thursday. The stock has a 50 day moving average of $10.07 and a 200 day moving average of $10.02. GigInternational1, Inc. has a 12 month low of $9.87 and a 12 month high of $10.12.

GigInternational1 (NASDAQ:GIW) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.05 earnings per share (EPS) for the quarter.

About GigInternational1

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.