Eureka Acquisition (NASDAQ:EURK) Stock Price Down 0.4% – Time to Sell?

Eureka Acquisition Corp. (NASDAQ:EURK)’s stock price fell 0.4% on Thursday . The company traded as low as $11.17 and last traded at $11.12. 2,102 shares changed hands during trading, an increase of 149% from the average session volume of 844 shares. The stock had previously closed at $11.17.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Eureka Acquisition in a report on Friday, January 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Eureka Acquisition Trading Up 0.1%

The stock’s 50-day moving average is $10.98 and its two-hundred day moving average is $10.81.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clear Street LLC purchased a new stake in Eureka Acquisition in the second quarter worth $2,283,000. Berkley W R Corp increased its position in shares of Eureka Acquisition by 0.4% in the 2nd quarter. Berkley W R Corp now owns 305,628 shares of the company’s stock valued at $3,179,000 after acquiring an additional 1,336 shares during the period. Crossingbridge Advisors LLC purchased a new stake in Eureka Acquisition in the third quarter valued at approximately $1,431,000. Clear Street Group Inc. purchased a new position in shares of Eureka Acquisition during the third quarter worth $729,000. Finally, Meteora Capital LLC purchased a new stake in shares of Eureka Acquisition in the third quarter worth about $1,386,000.

Eureka Acquisition Company Profile

Eureka Acquisition Co (NASDAQ: EURK) is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. As a blank?check vehicle, the company raised capital through an initial public offering to pursue mergers, acquisitions or other business combinations. Eureka Acquisition does not engage in any operational business activities of its own and has not yet announced a definitive target or transaction.

The company’s charter provides a fixed time frame—typically 24 to 36 months—to identify and complete a qualifying business combination.