Lafayette Acquisition Corp. (NASDAQ:LAFAR) Sees Significant Growth in Short Interest

Lafayette Acquisition Corp. (NASDAQ:LAFAR) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 2,414 shares, an increase of 59.4% from the September 15th total of 1,514 shares. Based on an average daily volume of 1,096 shares, the short-interest ratio is presently 2.2 days.

Institutional Trading of Lafayette Acquisition

An institutional investor recently bought a new position in Lafayette Acquisition stock. Rivernorth Capital Management LLC bought a new position in shares of Lafayette Acquisition Corp. (NASDAQ:LAFAR) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 300,000 shares of the company’s stock, valued at approximately $36,000.

Lafayette Acquisition Price Performance

Shares of Lafayette Acquisition stock remained flat at $0.07 during midday trading on Friday. The company has a 50 day moving average of $0.08 and a 200 day moving average of $0.10. Lafayette Acquisition has a 12 month low of $0.07 and a 12 month high of $0.30.

About Lafayette Acquisition

Lafayette Acquisition is a special purpose acquisition company, or blank-check company, formed to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more operating businesses.

Unlike an operating company, Lafayette Acquisition does not appear to have established products, services, or commercial operations of its own. Its primary activities are evaluating potential acquisition opportunities and seeking shareholder approval for a proposed transaction.

Publicly available information about the company’s target industry, geographic focus, operating history, and leadership is limited.