Lafayette Acquisition (NASDAQ:LAFA) Shares Climb 0.3% – Time to Buy?

Lafayette Acquisition Corp. (NASDAQ:LAFA)’s stock price shot up 0.3% during mid-day trading on Wednesday. The company traded as high as $10.24 and last traded at $10.2190. 7 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 32,376 shares. The stock had previously closed at $10.19.

Analyst Ratings Changes

Separately, Weiss Ratings raised Lafayette Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Lafayette Acquisition Trading Up 0.1%

The firm’s 50-day moving average price is $10.18 and its 200-day moving average price is $10.11.

Lafayette Acquisition (NASDAQ:LAFA) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.06 EPS for the quarter.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Lafayette Acquisition stock. Sona Asset Management US LLC acquired a new stake in Lafayette Acquisition Corp. (NASDAQ:LAFA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 350,000 shares of the company’s stock, valued at approximately $3,490,000. Sona Asset Management US LLC owned about 2.56% of Lafayette Acquisition as of its most recent SEC filing.

About Lafayette Acquisition

Lafayette Acquisition Corp. is a special purpose acquisition company (SPAC) listed on the Nasdaq Capital Market under the symbol LAFA. The company was formed to identify and complete a business combination with one or more operating companies.

Unlike an operating business, Lafayette Acquisition does not currently manufacture products or provide services to customers. Its activities are focused on evaluating potential targets and pursuing a transaction such as a merger, stock purchase, asset acquisition, reorganization or similar business combination.

Publicly available information does not identify a completed acquisition, definitive target or specific industry focus for Lafayette Acquisition Corp.