GP-Act III Acquisition Corp. (NASDAQ:GPAT) Sees Large Decrease in Short Interest

by · The Cerbat Gem

GP-Act III Acquisition Corp. (NASDAQ:GPAT – Get Free Report) saw a significant decline in short interest in February. As of February 27th, there was short interest totaling 1,629 shares, a decline of 46.1% from the February 12th total of 3,023 shares. Based on an average daily trading volume, of 24,860 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 24,860 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of GP-Act III Acquisition

Several hedge funds have recently made changes to their positions in the business. Alberta Investment Management Corp bought a new position in shares of GP-Act III Acquisition in the 2nd quarter valued at about $17,144,000. JPMorgan Chase & Co. purchased a new stake in GP-Act III Acquisition during the second quarter valued at approximately $2,377,000. Wellspring Financial Advisors LLC raised its position in GP-Act III Acquisition by 17.8% during the second quarter. Wellspring Financial Advisors LLC now owns 21,200 shares of the company’s stock valued at $224,000 after purchasing an additional 3,200 shares during the period. Clear Street LLC lifted its stake in shares of GP-Act III Acquisition by 8,429.8% in the 2nd quarter. Clear Street LLC now owns 10,321 shares of the company’s stock valued at $109,000 after purchasing an additional 10,200 shares during the last quarter. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of GP-Act III Acquisition in the 2nd quarter valued at approximately $2,638,000.

GP-Act III Acquisition Price Performance

GP-Act III Acquisition stock traded down $0.02 during mid-day trading on Friday, reaching $10.78. 545,551 shares of the company’s stock traded hands, compared to its average volume of 40,952. GP-Act III Acquisition has a 12-month low of $10.27 and a 12-month high of $10.80. The stock has a 50 day moving average of $10.75 and a two-hundred day moving average of $10.68.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, GP-Act III Acquisition has a consensus rating of “Sell”.

View Our Latest Stock Analysis on GP-Act III Acquisition

About GP-Act III Acquisition

(Get Free Report)

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.

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