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

Periscope Capital Inc. trimmed its stake in shares of GigCapital7 Corp. (NASDAQ:GIG) by 44.4% during the 4th quarter, Holdings Channel reports. The fund owned 125,000 shares of the company’s stock after selling 100,000 shares during the quarter. Periscope Capital Inc.’s holdings in GigCapital7 were worth $1,318,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC acquired a new stake in GigCapital7 during the fourth quarter worth about $562,000. Quarry LP acquired a new stake in GigCapital7 during the third quarter worth about $598,000. Moore Capital Management LP acquired a new stake in GigCapital7 during the third quarter worth about $528,000. TENOR CAPITAL MANAGEMENT Co. L.P. grew its holdings in GigCapital7 by 232.9% during the third quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 1,690,136 shares of the company’s stock worth $17,831,000 after acquiring an additional 1,182,437 shares during the period. Finally, Radcliffe Capital Management L.P. grew its holdings in GigCapital7 by 3,240.8% during the third quarter. Radcliffe Capital Management L.P. now owns 523,973 shares of the company’s stock worth $5,528,000 after acquiring an additional 508,289 shares during the period.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered GigCapital7 from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, GigCapital7 has an average rating of “Sell”.

GigCapital7 Trading Down 3.0%

Shares of GIG stock opened at $5.01 on Friday. The company has a market capitalization of $166.82 million, a P/E ratio of 62.57 and a beta of 0.04. The business’s 50 day moving average is $8.69 and its two-hundred day moving average is $9.90. GigCapital7 Corp. has a 12-month low of $4.17 and a 12-month high of $12.50.

GigCapital7 (NASDAQ:GIG) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.02 earnings per share (EPS) 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.