GigCapital2 Inc. (NYSE: GIX) is -8.49% lower on its value in year-to-date trading and has touched a low of $9.95 and a high of $12.12 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 GIX stock was last observed hovering at around $10.04 in the last trading session, with the day’s loss setting it -0.02% off its average median price target of $14.00 for the next 12 months. It is also 28.43% off the consensus price target high of $14.00 offered by 1 analysts, but current levels are 28.43% higher than the price target low of $14.00 for the same period.
Currently trading at $10.02, the stock is -0.21% and -0.45% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.46 million and changing -0.20% at the moment leaves the stock -2.33% off its SMA200. GIX registered 0.70% gain for a year compared to 6-month loss of -0.69%. The firm has a 50-day simple moving average (SMA 50) of $10.08 and a 200-day simple moving average (SMA200) of $10.31.
The stock witnessed a -0.10% gain in the last 1 month and extending the period to 3 months gives it a -3.65%, and is -0.20% down 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 0.35% over the week and 0.36% over the month.
Distance from 52-week low is 0.70% and -17.33% from its 52-week high.
GigCapital2 Inc. (GIX) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for GigCapital2 Inc. (GIX) is a “Buy”. 1 analysts offering their recommendations for the stock, where 0 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
The EPS is expected to shrink by -434.40% this year.
GigCapital2 Inc. (GIX) Top Institutional Holders
57 institutions hold shares in GigCapital2 Inc. (GIX), with 4.5M shares held by insiders accounting for 22.71% while institutional investors hold 54.31% of the company’s shares. The shares outstanding are 19.81M, and float is at 15.70M with Short Float at 3.41%. Institutions hold 41.97% of the Float.
The top institutional shareholder in the company is Glazer Capital LLC with over 1.07 million shares valued at $11.66 million. The investor’s holdings represent 5.38% of the GIX Shares outstanding. As of Dec 30, 2020, the second largest holder is EJF Capital LLC with 0.76 million shares valued at $8.29 million to account for 3.82% of the shares outstanding. The other top investors are Oxford Asset Management Llp which holds 0.66 million shares representing 3.31% and valued at over $6.52 million, while Davidson Kempner Capital Management LP holds 3.07% of the shares totaling 0.61 million with a market value of $6.66 million.
GigCapital2 Inc. (GIX) Insider Activity
A total of 7 insider transactions have happened at GigCapital2 Inc. (GIX) in the last six months, with sales accounting for 7 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 50,000 shares of the company’s common stock on Dec 10 at a price of $10.50 per share for a total of $0.53 million. Following the sale, the insider now owns 2.2 million shares.
GigCapital2 Inc. disclosed in a document filed with the SEC on Dec 09 that GLAZER CAPITAL, LLC (10% Owner) sold a total of 50,000 shares of the company’s common stock. The trade occurred on Dec 09 and was made at $10.58 per share for $0.53 million. Following the transaction, the insider now directly holds 2.25 million shares of the GIX stock.
Still, SEC filings show that on Dec 08, GLAZER CAPITAL, LLC (10% Owner) disposed off 236,617 shares at an average price of $10.79 for $2.55 million. The insider now directly holds 2,296,713 shares of GigCapital2 Inc. (GIX).