GigCapital7 Corp. $GIG Shares Sold by Periscope Capital Inc.

Periscope Capital Inc. reduced its holdings in shares of GigCapital7 Corp. (NASDAQ:GIG) by 44.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,000 shares of the company’s stock after selling 100,000 shares during the period. Periscope Capital Inc. owned approximately 0.38% of GigCapital7 worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Radcliffe Capital Management L.P. acquired a new position in GigCapital7 during the 2nd quarter valued at about $163,000. Moore Capital Management LP acquired a new position in GigCapital7 during the 3rd quarter valued at about $528,000. Geode Capital Management LLC acquired a new position in GigCapital7 during the 4th quarter valued at about $562,000. Quarry LP acquired a new position in GigCapital7 during the 3rd quarter valued at about $598,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in GigCapital7 during the 2nd quarter valued at about $5,270,000.

GigCapital7 Stock Performance

Shares of GIG stock opened at $5.01 on Friday. The stock’s 50-day simple moving average is $8.69 and its 200-day simple moving average is $9.90. The firm has a market capitalization of $166.82 million, a PE ratio of 62.57 and a beta of 0.04. GigCapital7 Corp. has a fifty-two week low of $4.17 and a fifty-two week high of $12.50.

GigCapital7 (NASDAQ:GIG) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.02 earnings per share for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings lowered GigCapital7 from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.