Short Interest in GigInternational1, Inc. (NASDAQ:GIW) Grows By 595.2%

GigInternational1, Inc. (NASDAQ:GIW) saw 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. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 32,177 shares, the days-to-cover ratio is currently 0.2 days.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of GigInternational1 from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, GigInternational1 currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Rivernorth Capital Management LLC bought a new position in shares of GigInternational1 in the 1st quarter valued at about $5,977,000. Sona Asset Management US LLC bought a new position in shares of GigInternational1 in the 1st quarter valued at about $4,152,000. Gabelli Funds LLC bought a new position in shares of GigInternational1 in the 1st quarter valued at about $2,545,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of GigInternational1 in the 1st quarter valued at about $2,990,000. Finally, Lineage Point Capital LP bought a new position in shares of GigInternational1 in the 4th quarter valued at about $346,000. Institutional investors own 14.01% of the company’s stock.

GigInternational1 Stock Performance

Shares of NASDAQ:GIW remained flat at $10.06 during midday trading on Thursday. 497 shares of the company traded hands, compared to its average volume of 66,805. GigInternational1 has a twelve month low of $9.87 and a twelve month high of $10.06. The business has a 50 day moving average of $10.01 and a 200-day moving average of $9.96.

About GigInternational1

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.