Texas Ventures Acquisition III Corp (NASDAQ:TVA – Get Free Report) was the recipient of a significant drop in short interest in June. As of June 15th, there was short interest totaling 2,329 shares, a drop of 57.0% from the May 31st total of 5,412 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 25,964 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of TVA. Mercuria Capital Strategies LLC purchased a new stake in Texas Ventures Acquisition III in the fourth quarter worth $5,325,000. Lincoln Capital Corp bought a new position in Texas Ventures Acquisition III in the 1st quarter worth $520,000. Fifth Lane Capital LP bought a new position in Texas Ventures Acquisition III in the 4th quarter worth $952,000. Governors Lane LP lifted its position in shares of Texas Ventures Acquisition III by 11.5% in the 4th quarter. Governors Lane LP now owns 468,058 shares of the company’s stock worth $4,985,000 after purchasing an additional 48,258 shares during the period. Finally, Rivernorth Capital Management LLC lifted its position in shares of Texas Ventures Acquisition III by 33.6% in the 4th quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock worth $4,233,000 after purchasing an additional 100,000 shares during the period.
Texas Ventures Acquisition III Stock Performance
TVA stock traded up $0.00 during midday trading on Wednesday, hitting $10.55. The company had a trading volume of 7,183 shares, compared to its average volume of 29,675. Texas Ventures Acquisition III has a 52 week low of $10.06 and a 52 week high of $12.27. The stock’s 50 day moving average price is $10.49 and its 200 day moving average price is $10.54.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on TVA shares. Weiss Ratings raised shares of Texas Ventures Acquisition III from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, June 1st. Wall Street Zen downgraded shares of Texas Ventures Acquisition III from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Texas Ventures Acquisition III currently has a consensus rating of “Sell”.
Read Our Latest Research Report on Texas Ventures Acquisition III
About Texas Ventures Acquisition III
Texas Ventures Acquisition III (NASDAQ: TVA) is a special purpose acquisition company (SPAC) listed on the NASDAQ exchange. As a blank‑check company, its principal business purpose is to raise capital in the public markets and use those proceeds to identify, negotiate and consummate one or more business combinations with an operating company.
Unlike an operating company, Texas Ventures Acquisition III does not produce goods or services while it searches for a target. Its activities typically include managing the capital held in trust, conducting diligence on prospective acquisition candidates, negotiating transaction terms, and seeking shareholder and regulatory approvals required to complete a business combination.
Pending completion of a business combination, the company’s prospects and ultimate strategy are driven by its management and sponsors; specific target industries, geographies and leadership details are disclosed through the company’s public filings and press releases as opportunities develop.
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