Evolution Global Acquisition Corp (NASDAQ:EVOX) Short Interest Update

Evolution Global Acquisition Corp (NASDAQ:EVOX) was the target of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 4,409 shares, a decrease of 50.2% from the May 14th total of 8,854 shares. Based on an average trading volume of 22,906 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on EVOX shares. Weiss Ratings raised Evolution Global Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, June 9th. Wall Street Zen raised Evolution Global Acquisition to a “sell” rating in a report on Saturday, March 14th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Evolution Global Acquisition Stock Performance

Shares of NASDAQ:EVOX remained flat at $10.01 during midday trading on Monday. The company had a trading volume of 624 shares, compared to its average volume of 57,200. Evolution Global Acquisition has a 12-month low of $9.86 and a 12-month high of $10.09. The stock has a fifty day moving average price of $10.00.

Evolution Global Acquisition (NASDAQ:EVOX) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.06 EPS for the quarter.

Institutional Investors Weigh In On Evolution Global Acquisition

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rivernorth Capital Management LLC acquired a new stake in shares of Evolution Global Acquisition in the first quarter valued at approximately $994,000. Whitebox Advisors LLC purchased a new stake in Evolution Global Acquisition in the first quarter valued at $2,988,000. Sona Asset Management US LLC purchased a new stake in Evolution Global Acquisition in the first quarter valued at $4,996,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Evolution Global Acquisition in the first quarter valued at $3,992,000. Finally, DLD Asset Management LP purchased a new stake in Evolution Global Acquisition in the first quarter valued at $996,000.

Evolution Global Acquisition Company Profile

Evolution Global Acquisition (NASDAQ:EVOX) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock market. As a blank?check company, its primary business purpose is to identify, negotiate and complete a business combination, merger or other acquisition that takes a target company public through the SPAC structure. The vehicle provides a means for investors to gain exposure to prospective private companies seeking public market access via a negotiated transaction with the sponsor.

SPACs like Evolution Global Acquisition typically raise capital in an initial public offering and hold funds in trust while they evaluate potential transaction opportunities.