GigCapital7 (NASDAQ:GIG) Stock Price Down 1.2% - Here's Why

Key Points

• Shares of GigCapital7 Corp. (NASDAQ:GIG) fell by 1.2% during mid-day trading with the stock last trading at $10.82.
• Weiss Ratings has given GigCapital7 a "sell (d-)" rating, reflecting a consensus rating of "Sell" from analysts.
• Institutional investors have recently made significant moves, including Radcliffe Capital Management purchasing a stake valued at approximately $163,000 in the second quarter.

Shares of GigCapital7 Corp. (NASDAQ:GIG - Get Free Report) traded down 1.2% during mid-day trading on Friday . The stock traded as low as $10.75 and last traded at $10.82. 1,710,721 shares changed hands during mid-day trading, an increase of 165% from the average session volume of 645,205 shares. The stock had previously closed at $10.95.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of GigCapital7 in a research report on Saturday, September 27th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of "Sell".

GigCapital7 Price Performance

The company has a 50-day moving average of $10.44 and a 200-day moving average of $10.33.

GigCapital7 (NASDAQ:GIG - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported $0.05 earnings per share for the quarter.

Institutional Investors Weigh In On GigCapital7

A number of institutional investors have recently added to or reduced their stakes in the business. Radcliffe Capital Management L.P. purchased a new stake in GigCapital7 in the 2nd quarter valued at approximately $163,000. Wolverine Asset Management LLC boosted its holdings in GigCapital7 by 4.0% in the 2nd quarter. Wolverine Asset Management LLC now owns 586,705 shares of the company's stock valued at $6,090,000 after purchasing an additional 22,729 shares in the last quarter. Westchester Capital Management LLC boosted its holdings in GigCapital7 by 4.2% in the 1st quarter. Westchester Capital Management LLC now owns 999,000 shares of the company's stock valued at $10,110,000 after purchasing an additional 40,000 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in GigCapital7 in the 1st quarter valued at approximately $761,000. Finally, Wealthspring Capital LLC purchased a new stake in shares of GigCapital7 during the 2nd quarter worth approximately $832,000.

About GigCapital7

GigCapital7 Corp. is a blank check company or special purpose acquisition company. It was formed for the purpose of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded by Avishay S.

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