GP-Act III Acquisition Corp. (NASDAQ:GPAT) Sees Large Growth in Short Interest

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the recipient of a significant increase in short interest in June. As of June 15th, there was short interest totaling 3,999 shares, an increase of 458.5% from the May 31st total of 716 shares. Based on an average daily trading volume, of 4,423 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Sona Asset Management US LLC acquired a new stake in GP-Act III Acquisition in the 1st quarter valued at $2,168,000. Berkley W R Corp grew its holdings in shares of GP-Act III Acquisition by 171.2% in the 1st quarter. Berkley W R Corp now owns 846,823 shares of the company’s stock valued at $9,180,000 after acquiring an additional 534,533 shares in the last quarter. Cannon Global Investment Management LLC grew its holdings in shares of GP-Act III Acquisition by 15.2% in the 1st quarter. Cannon Global Investment Management LLC now owns 16,700 shares of the company’s stock valued at $181,000 after acquiring an additional 2,200 shares in the last quarter. Lineage Point Capital LP acquired a new stake in shares of GP-Act III Acquisition in the fourth quarter valued at about $695,000. Finally, Meteora Capital LLC increased its position in shares of GP-Act III Acquisition by 62.8% in the fourth quarter. Meteora Capital LLC now owns 408,719 shares of the company’s stock valued at $4,369,000 after acquiring an additional 157,689 shares during the last quarter.

GP-Act III Acquisition Stock Performance

Shares of GP-Act III Acquisition stock traded up $0.09 during trading on Friday, reaching $10.96. The stock had a trading volume of 300 shares, compared to its average volume of 143,476. The stock has a fifty day moving average price of $10.88 and a two-hundred day moving average price of $10.80. GP-Act III Acquisition has a 52 week low of $10.50 and a 52 week high of $12.00.

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

About GP-Act III Acquisition

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.