Yakira Capital Management Inc. Sells 963,626 Shares of GigCapital7 Corp. $GIG

Yakira Capital Management Inc. decreased its holdings in shares of GigCapital7 Corp. (NASDAQ:GIG) by 59.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 643,960 shares of the company’s stock after selling 963,626 shares during the period. GigCapital7 accounts for about 2.3% of Yakira Capital Management Inc.’s holdings, making the stock its 14th largest holding. Yakira Capital Management Inc. owned about 1.93% of GigCapital7 worth $6,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Radcliffe Capital Management L.P. raised its position in GigCapital7 by 3,240.8% during the 3rd quarter. Radcliffe Capital Management L.P. now owns 523,973 shares of the company’s stock valued at $5,528,000 after purchasing an additional 508,289 shares during the last quarter. Highbridge Capital Management LLC bought a new position in GigCapital7 during the 4th quarter valued at approximately $19,799,000. Clear Street Group Inc. bought a new position in GigCapital7 during the 4th quarter valued at approximately $1,162,000. TENOR CAPITAL MANAGEMENT Co. L.P. raised its position in GigCapital7 by 232.9% during the 3rd quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 1,690,136 shares of the company’s stock valued at $17,831,000 after purchasing an additional 1,182,437 shares during the last quarter. Finally, Quarry LP bought a new position in GigCapital7 during the 3rd quarter valued at approximately $598,000.

Analyst Ratings Changes

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

GigCapital7 Stock Performance

Shares of NASDAQ:GIG opened at $5.01 on Monday. GigCapital7 Corp. has a 52-week low of $4.17 and a 52-week high of $12.50. The firm has a market capitalization of $166.82 million, a P/E ratio of 62.57 and a beta of 0.04. The stock has a 50 day moving average price of $7.57 and a 200-day moving average price of $9.51.

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

GigCapital7 Profile

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.