NewHold Investment Corp III (NASDAQ:NHIC) Sees Large Increase in Short Interest

NewHold Investment Corp III (NASDAQ:NHIC) was the target of a significant growth in short interest in April. As of April 30th, there was short interest totaling 7,321 shares, a growth of 361.6% from the April 15th total of 1,586 shares. Based on an average trading volume of 8,101 shares, the short-interest ratio is currently 0.9 days. Currently, 0.0% of the company’s stock are short sold.

NewHold Investment Corp III Stock Down 0.1%

NASDAQ:NHIC opened at $10.53 on Wednesday. The stock’s 50 day moving average price is $10.41 and its two-hundred day moving average price is $10.39. The firm has a market capitalization of $290.76 million and a price-to-earnings ratio of 87.76. NewHold Investment Corp III has a 12-month low of $10.00 and a 12-month high of $10.86.

NewHold Investment Corp III (NASDAQ:NHIC) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $4.04 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded NewHold Investment Corp III from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, NewHold Investment Corp III currently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Clear Street Group Inc. acquired a new position in NewHold Investment Corp III in the 3rd quarter valued at $67,000. Concurrent Investment Advisors LLC acquired a new position in NewHold Investment Corp III in the 3rd quarter valued at $113,000. Sandia Investment Management LP acquired a new position in NewHold Investment Corp III in the 2nd quarter valued at $254,000. Alyeska Investment Group L.P. acquired a new position in NewHold Investment Corp III in the 3rd quarter valued at $450,000. Finally, JPMorgan Chase & Co. acquired a new position in NewHold Investment Corp III in the 2nd quarter valued at $1,015,000.

About NewHold Investment Corp III

NewHold Investment Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination, with one or more target businesses. The company was formerly known as NewHold Industrial Corp. and changed its name to NewHold Investment Corp. in February 2020. NewHold Investment Corp. was incorporated in 2020 and is based in Houston, Texas.