GigCapital3 Inc. [GIK] fell -31.49% so far this year. What now?

GigCapital3 Inc. [NYSE: GIK] slipped around -1.04 points on Friday, while shares priced at $9.03 at the close of the session, down -10.33%. The company report on April 12, 2021 that GigCapital Global Sponsored SPAC GigCapital3 Reminds Stockholders to Vote in Favor of Proposed Business Combination with Lightning eMotors.

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Special Meeting of Stockholders to be held on Wednesday, April 21, 2021.

GigCapital3, Inc. (“GigCapital3”) (NYSE: GIK), a Technology, Media and Telecom (TMT) Private-to-Public Equity (PPE)™ corporation, encourages its stockholders to vote in favor of the previously announced proposed business combination with Lightning eMotors (“Lightning eMotors”).

GigCapital3 Inc. stock is now -31.49% down from its year-to-date (YTD) trading value. GIK Stock saw the intraday high of $10.05 and lowest of $8.88 per share. The company’s 52-week high price is 17.36, which means current price is +1.69% above from all time high which was touched on 01/21/21.

Compared to the average trading volume of 1.61M shares, GIK reached a trading volume of 2593138 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about GigCapital3 Inc. [GIK]?

Colliers Securities have made an estimate for GigCapital3 Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 16, 2021. While these analysts kept the previous recommendation, Northland Capital raised their target price to Outperform. The new note on the price target was released on April 13, 2021, representing the official price target for GigCapital3 Inc. stock. Previously, the target price had yet another raise to $17, while The Benchmark Company analysts kept a Buy rating on GIK stock.

The Average True Range (ATR) for GigCapital3 Inc. is set at 0.47 The Price to Book ratio for the last quarter was 0.34, with the Price to Cash per share for the same quarter was set at 0.04.

How has GIK stock performed recently?

GigCapital3 Inc. [GIK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.86. With this latest performance, GIK shares dropped by -24.88% in over the last four-week period, additionally sinking by -8.78% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GIK stock in for the last two-week period is set at 23.32, with the RSI for the last a single of trading hit 13.15, and the three-weeks RSI is set at 30.22 for GigCapital3 Inc. [GIK]. The present Moving Average for the last 50 days of trading for this stock 11.98, while it was recorded at 9.85 for the last single week of trading.

GigCapital3 Inc. [GIK]: Deeper insight into the fundamentals

GigCapital3 Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.70.

Insider trade positions for GigCapital3 Inc. [GIK]

There are presently around $40 million, or 17.40% of GIK stock, in the hands of institutional investors. The top three institutional holders of GIK stocks are: SUSQUEHANNA INTERNATIONAL GROUP, LLP with ownership of 844,429, which is approximately New of the company’s market cap and around 0.06% of the total institutional ownership; OMNI PARTNERS LLP, holding 798,812 shares of the stock with an approximate value of $7.21 million in GIK stocks shares; and OMERS ADMINISTRATION CORP, currently with $3.6 million in GIK stock with ownership of nearly New of the company’s market capitalization.

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39 institutional holders increased their position in GigCapital3 Inc. [NYSE:GIK] by around 2,329,781 shares. Additionally, 32 investors decreased positions by around 9,659,129 shares, while 0 investors held positions by with 7,582,013 shares. The mentioned changes placed institutional holdings at 4,406,897 shares, according to the latest SEC report filing. GIK stock had 37 new institutional investments in for a total of 2,223,194 shares, while 18 institutional investors sold positions of 6,818,033 shares during the same period.

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