GigCapital2 Inc. (GIX) shares are trading at higher $11.11.
To add more color to this target, the company’s high over the last year is $10.60 and the low is $9.60. Over the last 52 weeks, GIX is up 12.79% while the S&P 500 is up 17.22%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
GIX Return on Equity (ROE) is -0.90%, and its Return on Assets is -0.90%. All told, it is clear that, GIX needs to be on your watchlist.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. GIX has a short ratio of 0.15 and outstanding shares of 5.25M.
GIX has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 2.34 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.27. GigCapital2 Inc. GIX also noted assets of $174.86 million at the end of the last quarter. Investors should also keep an eye on sector updates as GIX has historically followed its peers on positive news.
All told, GigCapital2 Inc. GIX has strung together solid data and demonstrated underlying fundamentals. At its current valuation, GIX represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
GigCapital2 Inc. GIX is now commanding a market cap of 244.20M and a float of 0.76M. GIX is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of GIX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in GIX, either long or short, and we have not been compensated for this article.