Short Interest in NewHold Investment Corp III (NASDAQ:NHIC) Drops By 33.8%

NewHold Investment Corp III (NASDAQ:NHIC) saw a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 26,886 shares, a decrease of 33.8% from the June 30th total of 40,614 shares. Based on an average daily volume of 41,962 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the company’s shares are sold short.

NewHold Investment Corp III Stock Down 0.8%

NHIC stock opened at $10.71 on Friday. The business’s fifty day simple moving average is $10.93 and its two-hundred day simple moving average is $10.60. NewHold Investment Corp III has a twelve month low of $10.16 and a twelve month high of $11.60. The firm has a market cap of $295.70 million, a price-to-earnings ratio of 89.25 and a beta of 0.28.

NewHold Investment Corp III (NASDAQ:NHIC) last released its earnings results on Monday, May 18th. The company reported $0.03 earnings per share for the quarter. The business had revenue of $3.71 million for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of NewHold Investment Corp III in a research note on Wednesday. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Institutional Investors Weigh In On NewHold Investment Corp III

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in NewHold Investment Corp III in the 2nd quarter valued at about $98,000. FNY Investment Advisers LLC purchased a new position in shares of NewHold Investment Corp III during the second quarter worth approximately $217,000. Sandia Investment Management LP purchased a new position in shares of NewHold Investment Corp III during the second quarter worth approximately $254,000. Alyeska Investment Group L.P. bought a new stake in shares of NewHold Investment Corp III during the third quarter valued at approximately $450,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of NewHold Investment Corp III during the second quarter valued at approximately $1,015,000.

NewHold Investment Corp III Company Profile

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.