Short Interest in GP-Act III Acquisition Corp. (NASDAQ:GPAT) Rises By 56,689.8%
by Kim Johansen · The Markets DailyGP-Act III Acquisition Corp. (NASDAQ:GPAT – Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 1,046,069 shares, an increase of 56,689.8% from the March 15th total of 1,842 shares. Based on an average trading volume of 256,385 shares, the days-to-cover ratio is presently 4.1 days.
GP-Act III Acquisition Stock Up 0.3%
Shares of GPAT traded up $0.03 during midday trading on Friday, reaching $10.87. 3,692 shares of the stock were exchanged, compared to its average volume of 116,768. GP-Act III Acquisition has a twelve month low of $10.31 and a twelve month high of $10.88. The business’s 50-day moving average price is $10.79 and its 200 day moving average price is $10.71.
GP-Act III Acquisition (NASDAQ:GPAT – Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The company reported $0.08 earnings per share (EPS) for the quarter.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GP-Act III Acquisition in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.
Read Our Latest Research Report on GPAT
Institutional Investors Weigh In On GP-Act III Acquisition
Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. purchased a new position in shares of GP-Act III Acquisition during the 2nd quarter worth $2,377,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in GP-Act III Acquisition in the 2nd quarter valued at about $2,638,000. Meteora Capital LLC purchased a new position in GP-Act III Acquisition in the 2nd quarter valued at about $20,330,000. Shaolin Capital Management LLC bought a new position in shares of GP-Act III Acquisition during the second quarter worth about $1,055,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in shares of GP-Act III Acquisition during the second quarter worth about $7,800,000.
GP-Act III Acquisition Company Profile
GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.