Gabelli Funds LLC Acquires Shares of 255,300 GigInternational1, Inc. $GIW

Gabelli Funds LLC acquired a new position in GigInternational1, Inc. (NASDAQ:GIW) in the first quarter, Holdings Channel reports. The institutional investor acquired 255,300 shares of the company’s stock, valued at approximately $2,545,000.

A number of other large investors have also recently made changes to their positions in GIW. Quarry LP purchased a new stake in shares of GigInternational1 during the 4th quarter valued at about $47,000. Geode Capital Management LLC purchased a new position in GigInternational1 in the fourth quarter worth about $193,000. Lineage Point Capital LP purchased a new position in GigInternational1 in the fourth quarter worth about $346,000. Stoic Point Capital Management LLC purchased a new position in GigInternational1 in the fourth quarter worth about $391,000. Finally, ABC Arbitrage SA bought a new stake in GigInternational1 during the fourth quarter worth approximately $396,000. 14.01% of the stock is currently owned by institutional investors.

GigInternational1 Stock Up 0.2%

NASDAQ GIW opened at $10.12 on Thursday. The company has a fifty day moving average of $10.07 and a two-hundred day moving average of $10.02. GigInternational1, Inc. has a 52 week low of $9.87 and a 52 week high of $10.12.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded GigInternational1 from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

GigInternational1 Profile

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.