Highbridge Capital Management LLC Invests $19.80 Million in GigCapital7 Corp. $GIG

Highbridge Capital Management LLC bought a new position in shares of GigCapital7 Corp. (NASDAQ:GIG) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 1,878,437 shares of the company’s stock, valued at approximately $19,799,000. Highbridge Capital Management LLC owned 0.06% of GigCapital7 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC bought a new stake in shares of GigCapital7 during the fourth quarter worth $562,000. Quarry LP bought a new stake in shares of GigCapital7 during the third quarter worth $598,000. Moore Capital Management LP bought a new stake in shares of GigCapital7 during the third quarter worth $528,000. TENOR CAPITAL MANAGEMENT Co. L.P. lifted its position in shares of GigCapital7 by 232.9% during the third quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 1,690,136 shares of the company’s stock worth $17,831,000 after purchasing an additional 1,182,437 shares during the last quarter. Finally, Radcliffe Capital Management L.P. raised its holdings in shares of GigCapital7 by 3,240.8% in the third quarter. Radcliffe Capital Management L.P. now owns 523,973 shares of the company’s stock valued at $5,528,000 after acquiring an additional 508,289 shares in the last quarter.

GigCapital7 Price Performance

GIG stock opened at $5.01 on Friday. The business has a 50-day moving average price of $8.13 and a 200 day moving average price of $9.71. The company has a market capitalization of $166.82 million, a P/E ratio of 62.57 and a beta of 0.04. GigCapital7 Corp. has a 1-year low of $4.17 and a 1-year high of $12.50.

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

Analyst Upgrades and Downgrades

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

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.