East West Ave Acquisition Corp. (NASDAQ:EWAVU – Get Free Report) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 924 shares, a growth of 176.6% from the September 15th total of 334 shares. Based on an average daily volume of 29,904 shares, the days-to-cover ratio is currently 0.0 days.
East West Ave Acquisition Price Performance
NASDAQ:EWAVU traded up $0.02 during mid-day trading on Monday, hitting $10.03. 597 shares of the company’s stock were exchanged, compared to its average volume of 66,639. East West Ave Acquisition has a one year low of $9.91 and a one year high of $10.40. The company has a fifty day moving average price of $10.01.
Analyst Ratings Changes
Separately, Wall Street Zen raised East West Ave Acquisition to a “hold” rating in a research report on Saturday, August 15th.
Insiders Place Their Bets
In related news, insider Space Summit Capital Llc sold 90,469 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $9.94, for a total value of $899,261.86. Following the sale, the insider directly owned 996,531 shares of the company’s stock, valued at $9,905,518.14. This represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
About East West Ave Acquisition
We are a newly organized blank check company formed as a Nevada corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Throughout this prospectus we will refer to this as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.
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