Lakeshore Acquisition III Corp. (NASDAQ:LCCC) Sees Large Drop in Short Interest

Lakeshore Acquisition III Corp. (NASDAQ:LCCC) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 287 shares, a decrease of 75.9% from the June 30th total of 1,192 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 25,853 shares, the days-to-cover ratio is presently 0.0 days.

Lakeshore Acquisition III Trading Up 0.3%

Shares of Lakeshore Acquisition III stock traded up $0.03 during trading hours on Friday, hitting $10.46. The company had a trading volume of 208 shares, compared to its average volume of 23,474. The company’s 50-day moving average price is $10.42. Lakeshore Acquisition III has a twelve month low of $10.04 and a twelve month high of $10.46.

Lakeshore Acquisition III (NASDAQ:LCCC) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.08 earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lakeshore Acquisition III in a report on Friday, May 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Lakeshore Acquisition III

A number of large investors have recently bought and sold shares of LCCC. Berkley W R Corp increased its stake in Lakeshore Acquisition III by 51.3% in the first quarter. Berkley W R Corp now owns 310,796 shares of the company’s stock valued at $3,203,000 after purchasing an additional 105,422 shares during the period. Sona Asset Management US LLC acquired a new stake in shares of Lakeshore Acquisition III during the first quarter worth about $1,030,000. Finally, Rivernorth Capital Management LLC grew its holdings in shares of Lakeshore Acquisition III by 33.6% during the fourth quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock worth $4,051,000 after buying an additional 100,000 shares during the last quarter.

About Lakeshore Acquisition III

Lakeshore Acquisition III (NASDAQ: LCCC) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock exchange. As a blank?check company, its primary business activity is to raise capital through an initial public offering and hold those proceeds in a trust while seeking a business combination, merger, asset acquisition or similar transaction that would bring a private operating company public through a reverse merger or other form of combination.

Prior to identifying and completing a qualifying business combination, Lakeshore Acquisition III does not operate traditional commercial businesses or offer products or services; instead, its operations are focused on target evaluation, due diligence, structuring potential transactions and managing the trust account and public?company obligations.