Globa Terra Acquisition (NASDAQ:GTERA) Issues Quarterly Earnings Results

Globa Terra Acquisition (NASDAQ:GTERA) announced its quarterly earnings data on Thursday. The company reported $0.09 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $1.72 million during the quarter.

Globa Terra Acquisition Trading Down 0.0%

Shares of Globa Terra Acquisition stock traded down $0.00 during midday trading on Thursday, hitting $10.20. 1,677 shares of the company traded hands, compared to its average volume of 45,356. Globa Terra Acquisition has a 12 month low of $9.93 and a 12 month high of $10.29. The business has a fifty day simple moving average of $10.17.

Analysts Set New Price Targets

Separately, Weiss Ratings initiated coverage on shares of Globa Terra Acquisition in a research report on Tuesday, January 27th. They set a “sell (e+)” rating on the stock. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Globa Terra Acquisition has a consensus rating of “Sell”.

Hedge Funds Weigh In On Globa Terra Acquisition

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC increased its stake in shares of Globa Terra Acquisition by 1.1% in the fourth quarter. Wolverine Asset Management LLC now owns 1,162,340 shares of the company’s stock valued at $11,740,000 after buying an additional 12,856 shares during the period. Berkley W R Corp boosted its holdings in Globa Terra Acquisition by 23.6% in the fourth quarter. Berkley W R Corp now owns 886,763 shares of the company’s stock valued at $8,956,000 after acquiring an additional 169,237 shares during the last quarter. Radcliffe Capital Management L.P. increased its position in Globa Terra Acquisition by 16.7% during the 4th quarter. Radcliffe Capital Management L.P. now owns 350,000 shares of the company’s stock valued at $3,535,000 after purchasing an additional 50,000 shares during the period. Picton Mahoney Asset Management bought a new position in Globa Terra Acquisition during the 4th quarter worth approximately $1,515,000. Finally, Heights Capital Management Inc. acquired a new position in shares of Globa Terra Acquisition in the 4th quarter worth approximately $1,255,000.

Globa Terra Acquisition (NASDAQ: GTERA) is a special purpose acquisition company (SPAC), commonly referred to as a blank?check company, formed to effect mergers, share exchanges, asset acquisitions, stock purchases, reorganizations or similar business combinations. Its primary corporate purpose is to raise capital in an initial public offering and to identify and complete a business combination that will result in a private operating company becoming publicly traded.

As a SPAC, Globa Terra Acquisition does not operate a traditional, revenue?generating business prior to completion of its business combination.