Short Interest in Lake Superior Acquisition Corp (NASDAQ:LKSP) Drops By 51.5%

Lake Superior Acquisition Corp (NASDAQ:LKSP) was the target of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 3,933 shares, a decline of 51.5% from the July 15th total of 8,102 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 15,520 shares, the short-interest ratio is currently 0.3 days.

Lake Superior Acquisition Stock Performance

Shares of Lake Superior Acquisition stock remained flat at $10.19 during trading on Monday. 381,066 shares of the stock were exchanged, compared to its average volume of 41,227. Lake Superior Acquisition has a 52 week low of $9.89 and a 52 week high of $10.20. The business has a 50 day moving average price of $10.16.

Lake Superior Acquisition (NASDAQ:LKSP) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.05 EPS for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Arbitrage LLC bought a new position in shares of Lake Superior Acquisition during the 4th quarter worth $5,414,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Lake Superior Acquisition in the 4th quarter worth about $4,970,000. Aristeia Capital L.L.C. bought a new position in shares of Lake Superior Acquisition during the 4th quarter valued at $4,166,000. Polar Asset Management Partners Inc. purchased a new position in Lake Superior Acquisition in the 4th quarter worth approximately $4,171,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Lake Superior Acquisition in the fourth quarter valued at about $4,175,000.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Lake Superior Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Lake Superior Acquisition has a consensus rating of “Sell”.

About Lake Superior Acquisition

Lake Superior Acquisition Corp. (NASDAQ: LKSP) is a special purpose acquisition company (SPAC) formed to identify, acquire or merge with one or more businesses. As a blank?check vehicle, its principal purpose is to raise capital in the public markets and use those proceeds, typically held in trust, to complete a business combination that delivers an operating company to public investors.

The company’s primary activities center on sourcing, negotiating and consummating an initial business combination.