Lafayette Acquisition (NASDAQ:LAFA) Trading Down 0.3% – What’s Next?

Lafayette Acquisition Corp. (NASDAQ:LAFA) was down 0.3% during trading on Friday . The company traded as low as $10.11 and last traded at $10.08. 108 shares changed hands during trading, a decline of 97% from the average session volume of 3,150 shares. The stock had previously closed at $10.11.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Lafayette Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Lafayette Acquisition Trading Down 0.3%

The stock has a 50 day simple moving average of $10.08.

Lafayette Acquisition (NASDAQ:LAFA) last announced its earnings results on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter.

Institutional Investors Weigh In On Lafayette Acquisition

Several hedge funds and other institutional investors have recently modified their holdings of the business. Schonfeld Strategic Advisors LLC bought a new stake in shares of Lafayette Acquisition during the fourth quarter worth $248,000. Moore Capital Management LP bought a new position in shares of Lafayette Acquisition in the fourth quarter worth about $990,000. Clear Street Group Inc. purchased a new position in Lafayette Acquisition in the 4th quarter worth about $1,273,000. Berkley W R Corp bought a new stake in Lafayette Acquisition during the 4th quarter valued at about $1,473,000. Finally, Radcliffe Capital Management L.P. bought a new stake in Lafayette Acquisition during the 4th quarter valued at about $1,980,000.

About Lafayette Acquisition

Lafayette Acquisition Corp. (NASDAQ: LAFA) is a special purpose acquisition company (SPAC) formed to identify, acquire, or merge with one or more operating businesses. As a blank?check vehicle, its primary business activity is sourcing and completing a business combination that would result in a privately held company becoming publicly traded through the SPAC structure.

The company raises capital from public market investors and typically holds the IPO proceeds in trust while its management and sponsors evaluate potential targets.