Launch One Acquisition Corp. (NASDAQ:LPAA) Sees Significant Increase in Short Interest

Launch One Acquisition Corp. (NASDAQ:LPAA) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 4,894 shares, an increase of 637.0% from the July 15th total of 664 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 24,392 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LPAA. Berkley W R Corp increased its holdings in shares of Launch One Acquisition by 4.5% in the first quarter. Berkley W R Corp now owns 1,487,125 shares of the company’s stock valued at $15,927,000 after buying an additional 63,835 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in shares of Launch One Acquisition by 45.4% during the 4th quarter. Wolverine Asset Management LLC now owns 1,016,497 shares of the company’s stock worth $10,765,000 after acquiring an additional 317,318 shares in the last quarter. TENOR CAPITAL MANAGEMENT Co. L.P. grew its holdings in shares of Launch One Acquisition by 87.5% in the 2nd quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 750,000 shares of the company’s stock worth $7,811,000 after acquiring an additional 350,000 shares during the last quarter. Shaolin Capital Management LLC grew its holdings in shares of Launch One Acquisition by 14.3% in the 3rd quarter. Shaolin Capital Management LLC now owns 400,000 shares of the company’s stock worth $4,200,000 after acquiring an additional 50,000 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of Launch One Acquisition by 68.9% in the 4th quarter. Toronto Dominion Bank now owns 244,904 shares of the company’s stock worth $2,594,000 after acquiring an additional 99,904 shares during the last quarter.

Launch One Acquisition Stock Performance

NASDAQ:LPAA opened at $10.75 on Friday. Launch One Acquisition has a twelve month low of $10.42 and a twelve month high of $11.67. The company has a 50-day moving average of $10.85 and a 200-day moving average of $10.77.

Launch One Acquisition (NASDAQ:LPAA) last released its earnings results on Thursday, May 14th. The company reported $0.06 EPS for the quarter. The business had revenue of $2.17 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Launch One Acquisition in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Launch One Acquisition

Launch One Acquisition Corp is a blank check company incorporated in Delaware. Its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Shares and warrants of the company trade on the Nasdaq Global Market under the ticker symbols “LPAA” and “LPAAW.”

The company completed its initial public offering in 2021, raising gross proceeds through the sale of units, each consisting of one share of common stock and one quarter of a warrant.