Aristeia Capital L.L.C. Cuts Stake in GigCapital7 Corp. $GIG

Aristeia Capital L.L.C. lowered its stake in shares of GigCapital7 Corp. (NASDAQ:GIG) by 41.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,005,240 shares of the company’s stock after selling 710,191 shares during the period. Aristeia Capital L.L.C. owned about 3.02% of GigCapital7 worth $10,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Radcliffe Capital Management L.P. purchased a new stake in GigCapital7 during the 2nd quarter valued at about $163,000. Cantor Fitzgerald L. P. acquired a new position in shares of GigCapital7 in the 4th quarter worth approximately $264,000. Moore Capital Management LP acquired a new position in shares of GigCapital7 in the 3rd quarter worth approximately $528,000. Geode Capital Management LLC acquired a new position in shares of GigCapital7 in the 4th quarter worth approximately $562,000. Finally, Quarry LP acquired a new position in shares of GigCapital7 in the 3rd quarter worth approximately $598,000.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of 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 MarketBeat.com, GigCapital7 currently has an average rating of “Sell”.

GigCapital7 Price Performance

NASDAQ GIG opened at $5.01 on Thursday. The firm’s fifty day moving average price is $7.23 and its 200 day moving average price is $9.39. 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.

GigCapital7 (NASDAQ:GIG) last posted its earnings results on Wednesday, May 6th. The company reported $0.02 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.