GABELLI & Co INVESTMENT ADVISERS INC. Takes $2.99 Million Position in GigInternational1, Inc. $GIW

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of GigInternational1, Inc. (NASDAQ:GIW) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 299,871 shares of the company’s stock, valued at approximately $2,990,000. GABELLI & Co INVESTMENT ADVISERS INC. owned 1.11% of GigInternational1 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Quarry LP bought a new position in GigInternational1 in the fourth quarter valued at approximately $47,000. Geode Capital Management LLC bought a new stake in shares of GigInternational1 during the 4th quarter valued at $193,000. Lineage Point Capital LP bought a new stake in shares of GigInternational1 during the 4th quarter valued at $346,000. Stoic Point Capital Management LLC acquired a new position in shares of GigInternational1 in the 4th quarter valued at $391,000. Finally, ABC Arbitrage SA acquired a new position in shares of GigInternational1 in the 4th quarter valued at $396,000. 14.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised GigInternational1 from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

GigInternational1 Trading Up 0.1%

Shares of NASDAQ:GIW opened at $10.09 on Friday. The firm’s 50 day simple moving average is $10.07 and its 200 day simple moving average is $10.01. GigInternational1, Inc. has a fifty-two week low of $9.87 and a fifty-two week high of $10.11.

GigInternational1 (NASDAQ:GIW) last issued 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.