EGH Acquisition Corp. (NASDAQ:EGHA) Short Interest Update

EGH Acquisition Corp. (NASDAQ:EGHA) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 1,014 shares, a decrease of 34.0% from the April 15th total of 1,536 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 20,299 shares, the days-to-cover ratio is currently 0.0 days.

EGH Acquisition Price Performance

Shares of EGH Acquisition stock opened at $10.34 on Monday. EGH Acquisition has a 1 year low of $9.31 and a 1 year high of $10.80. The stock has a 50-day simple moving average of $10.23.

Institutional Investors Weigh In On EGH Acquisition

Several large investors have recently modified their holdings of the business. Magnetar Financial LLC bought a new stake in shares of EGH Acquisition in the fourth quarter worth about $6,084,000. Radcliffe Capital Management L.P. increased its holdings in shares of EGH Acquisition by 9.1% in the fourth quarter. Radcliffe Capital Management L.P. now owns 522,737 shares of the company’s stock worth $5,295,000 after acquiring an additional 43,765 shares in the last quarter. Verbena Value LP bought a new stake in shares of EGH Acquisition in the first quarter worth about $4,981,000. Rivernorth Capital Management LLC increased its holdings in shares of EGH Acquisition by 33.6% in the fourth quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock worth $4,027,000 after acquiring an additional 100,000 shares in the last quarter. Finally, Westchester Capital Management LLC increased its holdings in shares of EGH Acquisition by 30.0% in the fourth quarter. Westchester Capital Management LLC now owns 325,000 shares of the company’s stock worth $3,295,000 after acquiring an additional 75,000 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings started coverage on EGH Acquisition in a report on Tuesday, January 27th. They issued a “sell (e+)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

EGH Acquisition Company Profile

EGH Acquisition (NASDAQ: EGHA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses. As a blank?check vehicle, the company’s primary business activity is to raise capital through an initial public offering and to seek qualifying target companies for a business combination that would result in the target becoming a publicly listed entity.

Like other SPACs, EGH Acquisition typically holds the proceeds of its offering in trust while it evaluates potential targets and transaction structures.