Alpine Global Management LLC Purchases Shares of 210,000 GigCapital7 Corp. $GIG

Alpine Global Management LLC bought a new stake in shares of GigCapital7 Corp. (NASDAQ:GIG) during the 4th quarter, Holdings Channel reports. The fund bought 210,000 shares of the company’s stock, valued at approximately $2,213,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Radcliffe Capital Management L.P. purchased a new stake in GigCapital7 in the second quarter worth $163,000. Cantor Fitzgerald L. P. bought a new stake in shares of GigCapital7 during the 4th quarter valued at about $264,000. Readystate Asset Management LP purchased a new position in shares of GigCapital7 during the fourth quarter valued at about $318,000. Moore Capital Management LP purchased a new position in shares of GigCapital7 during the third quarter valued at about $528,000. Finally, Geode Capital Management LLC bought a new position in GigCapital7 in the fourth quarter worth about $562,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut GigCapital7 from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

GigCapital7 Trading Down 3.0%

GigCapital7 stock opened at $5.00 on Friday. The company has a market capitalization of $166.82 million, a price-to-earnings ratio of 62.57 and a beta of 0.04. GigCapital7 Corp. has a 12 month low of $4.17 and a 12 month high of $12.50. The business’s fifty day simple moving average is $7.12 and its two-hundred day simple moving average is $9.36.

GigCapital7 (NASDAQ:GIG) last issued its earnings results on Wednesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter.

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.