Cayson Acquisition (NASDAQ:CAPN) Trading Down 0.2% – Here’s Why

Shares of Cayson Acquisition Corp (NASDAQ:CAPN) dropped 0.2% during trading on Thursday . The stock traded as low as $10.66 and last traded at $10.73. Approximately 10,848 shares were traded during trading, an increase of 63% from the average daily volume of 6,637 shares. The stock had previously closed at $10.75.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Cayson Acquisition in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Cayson Acquisition Price Performance

The business has a fifty day moving average of $10.61 and a 200-day moving average of $10.48.

Cayson Acquisition (NASDAQ:CAPN) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.05 earnings per share for the quarter.

Institutional Trading of Cayson Acquisition

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAPN. Whitebox Advisors LLC bought a new position in shares of Cayson Acquisition in the second quarter valued at approximately $1,290,000. Wealthspring Capital LLC raised its position in Cayson Acquisition by 256.3% in the 2nd quarter. Wealthspring Capital LLC now owns 172,800 shares of the company’s stock valued at $1,776,000 after buying an additional 124,300 shares during the last quarter. Clear Street Group Inc. bought a new position in Cayson Acquisition during the 3rd quarter valued at $1,049,000. Magnetar Financial LLC purchased a new position in Cayson Acquisition during the 2nd quarter worth $772,000. Finally, Wolverine Asset Management LLC boosted its holdings in Cayson Acquisition by 10.9% during the 2nd quarter. Wolverine Asset Management LLC now owns 571,280 shares of the company’s stock worth $5,896,000 after acquiring an additional 56,173 shares during the last quarter.

Cayson Acquisition Company Profile

Cayson Acquisition Corp. is a Cayman Islands–incorporated blank check company formed in early 2021 to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company completed its initial public offering in March 2021 and is listed on the Nasdaq under the ticker symbol CAPN. As a special purpose acquisition company, Cayson Acquisition currently holds its capital in a trust account pending the execution of a qualifying transaction.

The company’s management team is focused on identifying high-growth opportunities across a range of industries, including technology, healthcare, consumer products and business services.