Short Interest in GP-Act III Acquisition Corp. (NASDAQ:GPAT) Declines By 63.9%

GP-Act III Acquisition Corp. (NASDAQ:GPAT) saw a large drop in short interest in the month of April. As of April 30th, there was short interest totaling 1,499 shares, a drop of 63.9% from the April 15th total of 4,148 shares. Based on an average daily volume of 174,496 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GP-Act III Acquisition in a research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, GP-Act III Acquisition currently has an average rating of “Sell”.

GP-Act III Acquisition Stock Performance

Shares of NASDAQ GPAT traded down $0.02 during mid-day trading on Friday, reaching $10.82. The company had a trading volume of 430 shares, compared to its average volume of 151,044. The company has a 50-day moving average price of $10.84 and a two-hundred day moving average price of $10.75. GP-Act III Acquisition has a 1-year low of $10.42 and a 1-year high of $11.00.

GP-Act III Acquisition (NASDAQ:GPAT) last issued its earnings results on Thursday, May 14th. The company reported $0.06 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On GP-Act III Acquisition

A number of hedge funds have recently modified their holdings of GPAT. Linden Advisors LP acquired a new position in shares of GP-Act III Acquisition in the 3rd quarter worth $8,454,000. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in shares of GP-Act III Acquisition during the second quarter valued at $7,800,000. L1 Global Manager Pty Ltd purchased a new position in shares of GP-Act III Acquisition during the fourth quarter valued at $6,067,000. Berkley W R Corp grew its holdings in shares of GP-Act III Acquisition by 171.2% during the first quarter. Berkley W R Corp now owns 846,823 shares of the company’s stock valued at $9,180,000 after buying an additional 534,533 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its holdings in shares of GP-Act III Acquisition by 90.6% during the third quarter. Wolverine Asset Management LLC now owns 954,866 shares of the company’s stock valued at $10,122,000 after buying an additional 453,866 shares in the last quarter.

GP-Act III Acquisition Company Profile

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.