Gritstone Asset Management LLC Makes New $302,000 Investment in GSR III Acquisition Corp. $GSRT

Gritstone Asset Management LLC acquired a new position in shares of GSR III Acquisition Corp. (NASDAQ:GSRT) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 28,031 shares of the company’s stock, valued at approximately $302,000.

Several other large investors have also recently added to or reduced their stakes in GSRT. Linden Advisors LP bought a new stake in GSR III Acquisition during the first quarter worth about $10,020,000. Kepos Capital LP bought a new stake in GSR III Acquisition during the first quarter worth about $9,980,000. Wolverine Asset Management LLC grew its stake in GSR III Acquisition by 374.2% during the first quarter. Wolverine Asset Management LLC now owns 1,063,447 shares of the company’s stock worth $10,645,000 after buying an additional 839,207 shares during the last quarter. Westchester Capital Management LLC grew its stake in GSR III Acquisition by 67.9% during the first quarter. Westchester Capital Management LLC now owns 1,855,000 shares of the company’s stock worth $18,624,000 after buying an additional 750,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in GSR III Acquisition during the first quarter worth about $6,149,000.

GSR III Acquisition Stock Up 6.9%

Shares of NASDAQ GSRT opened at $15.52 on Friday. The company has a 50-day moving average of $10.77 and a two-hundred day moving average of $10.59. GSR III Acquisition Corp. has a 1-year low of $8.82 and a 1-year high of $15.62.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GSRT shares. Roth Capital started coverage on shares of GSR III Acquisition in a research note on Tuesday, September 23rd. They issued a “buy” rating and a $20.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GSR III Acquisition in a research note on Wednesday. Benchmark started coverage on shares of GSR III Acquisition in a research note on Tuesday, August 12th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Zacks Research raised shares of GSR III Acquisition to a “hold” rating in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $19.50.

GSR III Acquisition Company Profile

GSR III Acquisition Corp engages in the merger, share exchange, asset acquisition, share purchase or reorganization with one or more businesses. The company was founded on May 10, 2023 and is headquartered in Austin, Texas.