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GigCapital3 Inc. (GIK) down -28.83% since start of the year

GigCapital3 Inc. (NYSE: GIK) is -28.83% lower on its value in year-to-date trading and has touched a low of $7.55 and a high of $17.36 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GIK stock was last observed hovering at around $9.00 in the last trading session, with the day’s gains setting it 0.38% off its average median price target of $15.50 for the next 12 months. It is also 44.82% off the consensus price target high of $17.00 offered by 4 analysts, but current levels are 33.0% higher than the price target low of $14.00 for the same period.

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Currently trading at $9.38, the stock is -3.85% and -16.11% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.2 million and changing 4.22% at the moment leaves the stock -17.15% off its SMA200. GIK registered a gain of -5.73% in past 6-months. The firm has a 50-day simple moving average (SMA 50) of $10.45 and a 200-day simple moving average (SMA200) of $11.98.

The stock witnessed a -11.92% loss in the last 1 month and extending the period to 3 months gives it a -36.28%, and is 3.65% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.92% over the week and 6.15% over the month.

Fwd P/E is 176.98. Distance from 52-week low is 24.16% and -45.97% from its 52-week high.

GigCapital3 Inc. (GIK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for GigCapital3 Inc. (GIK) is a “Buy”. 4 analysts offering their recommendations for the stock have an average rating of 1.70, where 0 rate it as a Hold and 0 think it is a “Overweight”. 4 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

GigCapital3 Inc. quarterly earnings per share for the current quarter are estimated at -$0.5 with sales reaching $4.2M over the same period..

GigCapital3 Inc. (GIK) Top Institutional Holders

56 institutions hold shares in GigCapital3 Inc. (GIK), with 15.02k shares held by insiders accounting for 0.06% while institutional investors hold 17.18% of the company’s shares. The shares outstanding are 25.89M, and float is at 20.24M with Short Float at 10.97%. Institutions hold 17.17% of the Float.

The top institutional shareholder in the company is Susquehanna International Group, LLP with over 0.84 million shares valued at $11.13 million. The investor’s holdings represent 3.26% of the GIK Shares outstanding. As of Dec 30, 2020, the second largest holder is Omni Partners LLP with 0.8 million shares valued at $10.53 million to account for 3.08% of the shares outstanding. The other top investors are OMERS Administration Corporation which holds 0.4 million shares representing 1.54% and valued at over $5.25 million, while Yakira Capital Management, Inc. holds 1.51% of the shares totaling 0.39 million with a market value of $5.17 million.

GigCapital3 Inc. (GIK) Insider Activity

A total of 1 insider transactions have happened at GigCapital3 Inc. (GIK) in the last six months, with sales accounting for 1 and purchases happening 0 times. The most recent transaction is an insider sale by GLAZER CAPITAL, LLC, the company’s 10% Owner. SEC filings show that GLAZER CAPITAL, LLC sold 750,000 shares of the company’s common stock on Dec 10 at a price of $14.50 per share for a total of $10.88 million. Following the sale, the insider now owns 2.45 million shares.

GigCapital3 Inc. disclosed in a document filed with the SEC on Sep 09 that GLAZER CAPITAL, LLC (10% Owner) sold a total of 100 shares of the company’s common stock. The trade occurred on Sep 09 and was made at $10.67 per share for $1067.0. Following the transaction, the insider now directly holds 3.2 million shares of the GIK stock.

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