Emmis Acquisition Corp. (NASDAQ:EMIS – Get Free Report) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totaling 4,887 shares, a decline of 44.0% from the July 15th total of 8,734 shares. Based on an average daily volume of 3,204 shares, the short-interest ratio is currently 1.5 days.
Institutional Investors Weigh In On Emmis Acquisition
Several institutional investors and hedge funds have recently added to or reduced their stakes in EMIS. Berkley W R Corp lifted its position in shares of Emmis Acquisition by 4.2% during the 1st quarter. Berkley W R Corp now owns 309,478 shares of the company’s stock worth $3,110,000 after buying an additional 12,430 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Emmis Acquisition in the fourth quarter valued at approximately $178,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Emmis Acquisition during the fourth quarter valued at approximately $249,000. ABC Arbitrage SA purchased a new stake in shares of Emmis Acquisition during the fourth quarter valued at approximately $398,000. Finally, Boothbay Fund Management LLC bought a new stake in Emmis Acquisition during the fourth quarter worth $418,000.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded Emmis Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.
Emmis Acquisition Stock Performance
Shares of NASDAQ EMIS traded up $0.04 during trading on Monday, hitting $10.26. The stock had a trading volume of 106 shares, compared to its average volume of 14,454. The firm has a fifty day moving average of $10.18 and a two-hundred day moving average of $10.11. Emmis Acquisition has a 12 month low of $9.90 and a 12 month high of $10.22.
About Emmis Acquisition
We are a blank check company incorporated as a Cayman Islands exempted company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.
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