Short Interest in GigCapital7 Corp. (NASDAQ:GIG) Rises By 6,625.0%

Key Points

• GigCapital7 Corp. (NASDAQ:GIG) experienced a dramatic increase in short interest of 6,625.0% in September, rising from 400 shares to 26,900 shares.
• Weiss Ratings has reaffirmed a "sell (d)" rating for GigCapital7, reflecting the opinion of one equities research analyst who has rated the stock as a Sell.
• Several institutional investors including Radcliffe Capital Management and TENOR CAPITAL MANAGEMENT have recently acquired new positions in GigCapital7, indicating varying levels of interest from hedge funds.

GigCapital7 Corp. (NASDAQ:GIG - Get Free Report) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 26,900 shares, a growth of 6,625.0% from the September 15th total of 400 shares. Based on an average daily volume of 249,200 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are short sold. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 249,200 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of GigCapital7 in a research note on Tuesday. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of "Sell".

Hedge Funds Weigh In On GigCapital7

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Radcliffe Capital Management L.P. purchased a new position in shares of GigCapital7 in the second quarter valued at $163,000. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in GigCapital7 during the 2nd quarter valued at about $5,270,000. Wealthspring Capital LLC acquired a new position in GigCapital7 during the 2nd quarter valued at about $832,000. Wolverine Asset Management LLC boosted its position in shares of GigCapital7 by 4.0% during 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. Finally, Westchester Capital Management LLC boosted its holdings in shares of GigCapital7 by 4.2% in the first quarter. Westchester Capital Management LLC now owns 999,000 shares of the company's stock worth $10,110,000 after buying an additional 40,000 shares during the period.

GigCapital7 Stock Performance

Shares of NASDAQ:GIG traded down $0.66 during mid-day trading on Thursday, reaching $11.06. 1,802,787 shares of the company were exchanged, compared to its average volume of 249,994. GigCapital7 has a 1 year low of $9.93 and a 1 year high of $12.50. The firm's 50-day simple moving average is $10.51 and its 200 day simple moving average is $10.36.

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

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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