GigCapital3 Inc. (GIK) shares are trading at higher $13.33.
To add more color to this target, the company’s high over the last year is $14.20 and the low is $9.79 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
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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. GIK has a short ratio of 0.03 and outstanding shares of 25.89M.
GIK has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 1.86 million and more growth is possible in the weeks ahead. Investors should also keep an eye on sector updates as GIK has historically followed its peers on positive news.
All told, GigCapital3 Inc. GIK has strung together solid data and demonstrated underlying fundamentals. At its current valuation, GIK 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.
GigCapital3 Inc. GIK is now commanding a market cap of 345.16M. GIK 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 GIK 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 GIK, either long or short, and we have not been compensated for this article.