Eureka Acquisition Corp. (NASDAQ:EURK – Get Free Report) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 354 shares, a drop of 93.9% from the June 30th total of 5,788 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 6,484 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in EURK. Berkley W R Corp raised its holdings in Eureka Acquisition by 3.2% in the 1st quarter. Berkley W R Corp now owns 315,488 shares of the company’s stock valued at $3,578,000 after buying an additional 9,860 shares during the last quarter. Clear Street Group Inc. increased its position in Eureka Acquisition by 35.4% in the 4th quarter. Clear Street Group Inc. now owns 92,366 shares of the company’s stock valued at $1,009,000 after acquiring an additional 24,135 shares during the period. Polar Asset Management Partners Inc. increased its position in Eureka Acquisition by 193.0% in the 1st quarter. Polar Asset Management Partners Inc. now owns 167,000 shares of the company’s stock valued at $1,894,000 after acquiring an additional 110,000 shares during the period. Finally, Meteora Capital LLC bought a new position in shares of Eureka Acquisition during the third quarter valued at $1,386,000.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Eureka Acquisition in a report on Monday, June 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Eureka Acquisition presently has an average rating of “Sell”.
Eureka Acquisition Trading Down 2.4%
Shares of EURK traded down $0.28 during mid-day trading on Friday, reaching $11.71. The company had a trading volume of 1,559 shares, compared to its average volume of 8,264. The company’s 50 day simple moving average is $11.62 and its 200 day simple moving average is $11.36. Eureka Acquisition has a 1-year low of $10.59 and a 1-year high of $14.28.
Eureka Acquisition (NASDAQ:EURK – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.12 earnings per share (EPS) for the quarter.
About Eureka Acquisition
Eureka Acquisition Co (NASDAQ: EURK) is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. As a blank‐check vehicle, the company raised capital through an initial public offering to pursue mergers, acquisitions or other business combinations. Eureka Acquisition does not engage in any operational business activities of its own and has not yet announced a definitive target or transaction.
The company’s charter provides a fixed time frame—typically 24 to 36 months—to identify and complete a qualifying business combination.
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