Futurewave Acquisition Corp (NASDAQ:FWACU) Short Interest Down 79.6% in August

Futurewave Acquisition Corp (NASDAQ:FWACU) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 160 shares, a decline of 79.6% from the August 15th total of 784 shares. Based on an average trading volume of 90 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Futurewave Acquisition to a “hold” rating in a research report on Saturday, July 4th.

Futurewave Acquisition Stock Performance

Shares of Futurewave Acquisition stock remained flat at $10.24 on Friday. The company’s 50-day simple moving average is $10.11. Futurewave Acquisition has a fifty-two week low of $10.00 and a fifty-two week high of $10.24.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Futurewave Acquisition stock. Readystate Asset Management LP grew its position in Futurewave Acquisition Corp (NASDAQ:FWACU) by 127.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,357 shares of the company’s stock after purchasing an additional 37,694 shares during the period. Readystate Asset Management LP’s holdings in Futurewave Acquisition were worth $694,000 at the end of the most recent quarter.

About Futurewave Acquisition

Futurewave Acquisition Corp. is a special purpose acquisition company (SPAC) formed to pursue a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. Companies like Futurewave Acquisition are typically created to help identify and combine with an operating business, rather than to run a traditional commercial operation themselves.

As a blank check company, Futurewave Acquisition does not provide a broad portfolio of products or services in the conventional sense.