EGH Acquisition Corp. (NASDAQ:EGHA – Get Free Report) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 297 shares, a drop of 89.3% from the June 15th total of 2,772 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily volume of 72,426 shares, the days-to-cover ratio is currently 0.0 days.
EGH Acquisition Stock Performance
NASDAQ EGHA traded down $0.01 during trading on Friday, reaching $10.34. 15,981 shares of the company’s stock traded hands, compared to its average volume of 71,100. EGH Acquisition has a 12-month low of $9.31 and a 12-month high of $10.80. The company has a 50 day simple moving average of $10.31.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of EGH Acquisition in a report on Thursday, June 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.
Hedge Funds Weigh In On EGH Acquisition
Several institutional investors have recently bought and sold shares of EGHA. Periscope Capital Inc. boosted its position in shares of EGH Acquisition by 26.6% in the 4th quarter. Periscope Capital Inc. now owns 253,146 shares of the company’s stock worth $2,564,000 after purchasing an additional 53,146 shares in the last quarter. Magnetar Financial LLC purchased a new position in EGH Acquisition during the 4th quarter worth $6,084,000. Clear Street Group Inc. increased its position in EGH Acquisition by 4,341.2% during the 4th quarter. Clear Street Group Inc. now owns 264,473 shares of the company’s stock valued at $2,679,000 after buying an additional 258,518 shares in the last quarter. Radcliffe Capital Management L.P. increased its position in EGH Acquisition by 9.1% during the 4th quarter. Radcliffe Capital Management L.P. now owns 522,737 shares of the company’s stock valued at $5,295,000 after buying an additional 43,765 shares in the last quarter. Finally, Verbena Value LP purchased a new stake in EGH Acquisition in the first quarter valued at about $4,981,000.
EGH Acquisition Company Profile
EGH Acquisition (NASDAQ: EGHA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses. As a blank‑check vehicle, the company’s primary business activity is to raise capital through an initial public offering and to seek qualifying target companies for a business combination that would result in the target becoming a publicly listed entity.
Like other SPACs, EGH Acquisition typically holds the proceeds of its offering in trust while it evaluates potential targets and transaction structures.
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