GP-Act III Acquisition Corp. (NASDAQ:GPAT) Sees Large Growth in Short Interest

GP-Act III Acquisition Corp. (NASDAQ:GPAT) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 3,517 shares, an increase of 126.8% from the December 31st total of 1,551 shares. Based on an average daily trading volume, of 2,452 shares, the short-interest ratio is currently 1.4 days. Based on an average daily trading volume, of 2,452 shares, the short-interest ratio is currently 1.4 days.

Institutional Investors Weigh In On GP-Act III Acquisition

Hedge funds and other institutional investors have recently modified their holdings of the stock. Longfellow Investment Management Co. LLC acquired a new position in GP-Act III Acquisition in the third quarter valued at approximately $83,000. Bank of America Corp DE bought a new stake in shares of GP-Act III Acquisition in the 3rd quarter worth $85,000. Clear Street Group Inc. bought a new stake in shares of GP-Act III Acquisition in the 3rd quarter worth approximately $109,000. Clear Street LLC lifted its stake in GP-Act III Acquisition by 8,429.8% during the second quarter. Clear Street LLC now owns 10,321 shares of the company’s stock valued at $109,000 after purchasing an additional 10,200 shares during the last quarter. Finally, Cannon Global Investment Management LLC bought a new stake in GP-Act III Acquisition during the third quarter worth approximately $111,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of GP-Act III Acquisition in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

GP-Act III Acquisition Trading Down 0.1%

Shares of NASDAQ GPAT traded down $0.01 during trading on Friday, reaching $10.73. The stock had a trading volume of 1,131 shares, compared to its average volume of 21,664. GP-Act III Acquisition has a fifty-two week low of $10.20 and a fifty-two week high of $10.75. The business’s 50-day moving average price is $10.69 and its 200-day moving average price is $10.64.

GP-Act III Acquisition (NASDAQ:GPAT) last issued its earnings results on Thursday, November 13th. The company reported $0.09 EPS for the quarter.

GP-Act III Acquisition Company Profile

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.