GigInternational1, Inc. (NASDAQ:GIW) Sees Large Increase in Short Interest

GigInternational1, Inc. (NASDAQ:GIW) was the target of a large growth in short interest in May. As of May 15th, there was short interest totaling 6,076 shares, a growth of 595.2% from the April 30th total of 874 shares. Based on an average daily trading volume, of 32,177 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded GigInternational1 from a “sell (e)” rating to a “sell (e+)” rating in a report on Monday, May 18th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, GigInternational1 currently has a consensus rating of “Sell”.

GigInternational1 Price Performance

Shares of NASDAQ GIW traded up $0.01 during midday trading on Friday, reaching $10.05. 4,657 shares of the company’s stock traded hands, compared to its average volume of 65,436. The stock’s 50 day simple moving average is $10.01 and its 200-day simple moving average is $9.96. GigInternational1 has a one year low of $9.87 and a one year high of $10.06.

Institutional Trading of GigInternational1

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP purchased a new position in shares of GigInternational1 in the 4th quarter valued at $47,000. Geode Capital Management LLC bought a new stake in GigInternational1 during the fourth quarter valued at about $193,000. Lineage Point Capital LP bought a new stake in GigInternational1 during the fourth quarter valued at about $346,000. Stoic Point Capital Management LLC bought a new stake in GigInternational1 during the fourth quarter valued at about $391,000. Finally, ABC Arbitrage SA purchased a new position in GigInternational1 in the fourth quarter valued at about $396,000. Institutional investors own 14.01% of the company’s stock.

GigInternational1 Company Profile

GigInternational1, Inc, does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to focus its search on companies in the technology, media, telecommunications, aerospace and defense, and mobility and semiconductor industries. The company was incorporated in 2021 and is based in Palo Alto, California.