Starboard Value Acquisition Corp. (NASDAQ:SVAC) Short Interest Update

Starboard Value Acquisition Corp. (NASDAQ:SVAC) saw a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 27,197 shares, a decline of 57.5% from the May 31st total of 63,986 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 112,154 shares, the days-to-cover ratio is currently 0.2 days.

Starboard Value Acquisition Stock Up 0.1%

Shares of NASDAQ SVAC traded up $0.01 during trading on Tuesday, hitting $10.26. 2,634,053 shares of the company traded hands, compared to its average volume of 346,084. The company has a 50-day moving average price of $10.43 and a 200-day moving average price of $10.38. Starboard Value Acquisition has a 1 year low of $10.03 and a 1 year high of $12.00.

Starboard Value Acquisition (NASDAQ:SVAC) last issued its earnings results on Thursday, May 14th. The company reported ($13.80) earnings per share for the quarter.

Institutional Trading of Starboard Value Acquisition

A number of institutional investors have recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new position in Starboard Value Acquisition in the fourth quarter valued at approximately $10,360,000. Alberta Investment Management Corp acquired a new stake in shares of Starboard Value Acquisition in the fourth quarter worth $10,150,000. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in shares of Starboard Value Acquisition in the 4th quarter valued at $10,150,000. Fort Baker Capital Management LP purchased a new position in shares of Starboard Value Acquisition in the 4th quarter valued at $9,648,000. Finally, AQR Arbitrage LLC acquired a new position in shares of Starboard Value Acquisition during the 4th quarter valued at $9,481,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

About Starboard Value Acquisition

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.