GigCapital7 (NASDAQ:GIG) Shares Down 0.1% – Should You Sell?

GigCapital7 Corp. (NASDAQ:GIG) dropped 0.1% on Wednesday . The stock traded as low as $10.60 and last traded at $10.61. Approximately 116,381 shares changed hands during trading, a decline of 50% from the average daily volume of 231,756 shares. The stock had previously closed at $10.62.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GigCapital7 in a report on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

GigCapital7 Trading Down 0.1%

The firm has a market capitalization of $353.63 million, a P/E ratio of 117.89 and a beta of 0.05. The company has a 50-day moving average of $10.56 and a 200-day moving average of $10.56.

Institutional Trading of GigCapital7

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GIG. Radcliffe Capital Management L.P. bought a new position in GigCapital7 during the 2nd quarter worth approximately $163,000. Cantor Fitzgerald L. P. acquired a new stake in shares of GigCapital7 during the fourth quarter worth $264,000. Readystate Asset Management LP bought a new position in GigCapital7 during the fourth quarter worth $318,000. Moore Capital Management LP acquired a new position in GigCapital7 in the third quarter valued at $528,000. Finally, Geode Capital Management LLC bought a new stake in GigCapital7 during the fourth quarter valued at $562,000.

About GigCapital7

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.