GigCapital2 (NASDAQ:GIX) Issues Earnings Results

GigCapital2 (NASDAQ:GIX) released its quarterly earnings results on Thursday. The company reported $0.05 EPS for the quarter, FiscalAI reports.

GigCapital2 Price Performance

Shares of GigCapital2 stock traded up $0.01 on Friday, hitting $10.05. The company’s stock had a trading volume of 409 shares, compared to its average volume of 96,231. GigCapital2 has a 1 year low of $9.80 and a 1 year high of $10.04. The firm has a fifty day moving average price of $10.01 and a 200-day moving average price of $9.94.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of GigCapital2 in a report on Wednesday, November 4th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Institutional Trading of GigCapital2

Several institutional investors have recently bought and sold shares of GIX. Harraden Circle Investments LLC purchased a new position in GigCapital2 in the 2nd quarter valued at about $47,698,000. First Trust Capital Management L.P. acquired a new position in shares of GigCapital2 during the third quarter valued at approximately $9,870,000. Lineage Point Capital LP acquired a new position in shares of GigCapital2 during the second quarter valued at approximately $1,540,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of GigCapital2 in the third quarter valued at approximately $459,000. 43.42% of the stock is owned by institutional investors and hedge funds.

GigCapital2 Company Profile

GigCapital2, Inc. was a special purpose acquisition company (SPAC) formed to pursue a merger, acquisition, or similar business combination. It did not operate a standalone business selling products or services; its stated investment focus included technology, media and telecommunications, as well as aerospace and defense. Led by founder and chief executive officer Avi Katz, GigCapital2 was based in Palo Alto, California. In 2021, it completed a business combination involving UpHealth Holdings and Cloudbreak Health, after which the combined company operated as UpHealth, Inc.