GP-Act III Acquisition Corp. (NASDAQ:GPAT) Sees Large Growth in Short Interest

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 5,242 shares, a growth of 269.2% from the September 30th total of 1,420 shares. Based on an average trading volume of 572 shares, the days-to-cover ratio is presently 9.2 days.

GP-Act III Acquisition Stock Up 0.2%

Shares of GPAT traded up $0.03 during mid-day trading on Wednesday, hitting $11.06. The company’s stock had a trading volume of 27,473 shares, compared to its average volume of 108,297. The stock’s 50-day moving average is $11.08 and its two-hundred day moving average is $10.93. GP-Act III Acquisition has a one year low of $10.57 and a one year high of $12.00.

GP-Act III Acquisition (NASDAQ:GPAT) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.01 EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of GP-Act III Acquisition from a “sell (d)” rating to a “hold (c-)” rating in a research note on Monday, August 24th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Institutional Trading of GP-Act III Acquisition

A number of institutional investors and hedge funds have recently modified their holdings of the company. Berkley W R Corp raised its stake in shares of GP-Act III Acquisition by 171.2% in the first quarter. Berkley W R Corp now owns 846,823 shares of the company’s stock valued at $9,180,000 after purchasing an additional 534,533 shares in the last quarter. Sona Asset Management US LLC acquired a new stake in GP-Act III Acquisition in the 1st quarter valued at $2,168,000. Finally, Citadel Advisors LLC grew its position in GP-Act III Acquisition by 16.7% in the second quarter. Citadel Advisors LLC now owns 20,039 shares of the company’s stock valued at $218,000 after acquiring an additional 2,867 shares during the period.

About GP-Act III Acquisition

GP-Act III Acquisition Corp. is a special purpose acquisition company (SPAC) listed on the Nasdaq Stock Market under the symbol GPAT. The company was formed to identify and complete a business combination with an operating company.

Rather than offering products or services of its own, GP-Act III Acquisition focuses on evaluating potential merger, acquisition, stock purchase, reorganization, or similar transactions. Its future business activities will depend on the company or business it ultimately combines with.

Publicly available information about GP-Act III Acquisition’s target industry, geographic focus, and leadership is limited.