Globa Terra Acquisition (NASDAQ:GTERA) Posts Earnings Results

Globa Terra Acquisition (NASDAQ:GTERA) posted its quarterly earnings data on Thursday. The company reported $0.08 EPS for the quarter, FiscalAI reports.

Globa Terra Acquisition Stock Performance

Shares of GTERA traded up $0.01 during trading hours on Friday, hitting $10.27. 3,317 shares of the stock were exchanged, compared to its average volume of 36,306. Globa Terra Acquisition has a 12-month low of $9.93 and a 12-month high of $10.29. The stock has a 50-day moving average price of $10.23.

Institutional Trading of Globa Terra Acquisition

Several large investors have recently added to or reduced their stakes in GTERA. Berkley W R Corp grew its holdings in Globa Terra Acquisition by 19.8% in the 1st quarter. Berkley W R Corp now owns 1,062,185 shares of the company’s stock valued at $10,866,000 after buying an additional 175,422 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in Globa Terra Acquisition in the 4th quarter valued at $1,515,000. Heights Capital Management Inc. purchased a new stake in Globa Terra Acquisition in the 4th quarter valued at $1,255,000. Boothbay Fund Management LLC purchased a new stake in Globa Terra Acquisition in the 4th quarter valued at $1,010,000. Finally, L1 Global Manager Pty Ltd purchased a new stake in Globa Terra Acquisition in the 4th quarter valued at $1,010,000.

Analysts Set New Price Targets

Separately, Weiss Ratings assumed coverage on Globa Terra Acquisition in a research report on Tuesday, January 27th. They issued a “sell (e+)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Globa Terra Acquisition (NASDAQ: GTERA) is a special purpose acquisition company (SPAC), commonly referred to as a blank?check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations. Its primary corporate purpose is to raise capital in an initial public offering and to identify and complete a business combination that will result in a private operating company becoming publicly traded.

As a SPAC, Globa Terra Acquisition does not operate a traditional, revenue?generating business prior to completion of its business combination.