Sona Asset Management US LLC Buys New Holdings in LightWave Acquisition Corp. $LWAC

Sona Asset Management US LLC purchased a new position in LightWave Acquisition Corp. (NASDAQ:LWAC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 199,100 shares of the company’s stock, valued at approximately $2,031,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LWAC. AQR Arbitrage LLC purchased a new stake in shares of LightWave Acquisition in the 3rd quarter valued at approximately $13,958,000. Magnetar Financial LLC acquired a new stake in shares of LightWave Acquisition in the 4th quarter valued at $10,279,000. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in shares of LightWave Acquisition during the 3rd quarter worth $9,950,000. Westchester Capital Management LLC purchased a new stake in shares of LightWave Acquisition during the 4th quarter worth $8,240,000. Finally, Alberta Investment Management Corp acquired a new position in shares of LightWave Acquisition during the fourth quarter worth $7,538,000.

LightWave Acquisition Price Performance

Shares of NASDAQ LWAC opened at $10.24 on Monday. The stock’s 50-day simple moving average is $10.23 and its 200-day simple moving average is $10.16. LightWave Acquisition Corp. has a fifty-two week low of $9.81 and a fifty-two week high of $10.28.

LightWave Acquisition (NASDAQ:LWAC) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.06 earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised LightWave Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

LightWave Acquisition Profile

Locust Walk Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Boston, Massachusetts.