Lake Superior Acquisition Corp (NASDAQ:LKSPU) Sees Significant Increase in Short Interest

Lake Superior Acquisition Corp (NASDAQ:LKSPU) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totaling 184 shares, an increase of 61.4% from the September 15th total of 114 shares. Based on an average daily trading volume, of 736 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Lake Superior Acquisition

An institutional investor recently bought a new stake in Lake Superior Acquisition stock. Lineage Point Capital LP acquired a new stake in shares of Lake Superior Acquisition Corp (NASDAQ:LKSPU) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $102,000.

Lake Superior Acquisition Stock Up 5.6%

NASDAQ LKSPU traded up $0.58 during trading hours on Friday, hitting $11.02. The company had a trading volume of 1,732 shares, compared to its average volume of 3,365. The firm has a 50 day simple moving average of $10.51 and a 200 day simple moving average of $10.36. Lake Superior Acquisition has a 52 week low of $10.02 and a 52 week high of $12.38.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Lake Superior Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Lake Superior Acquisition Company Profile

Lake Superior Acquisition Corp. is a special purpose acquisition company, or SPAC, formed to identify and complete a business combination with one or more operating businesses. Its potential transaction may take the form of a merger, acquisition, stock purchase, reorganization, or similar combination.

As a blank-check company, Lake Superior Acquisition does not have established operating products or services of its own. Instead, its activities are focused on raising capital through its public offering, evaluating potential target companies, and seeking shareholder approval for a proposed transaction.

Information about the company’s specific target industry, geographic focus, operating history, and leadership is limited in publicly available sources.