Lafayette Acquisition (NASDAQ:LAFA) Posts Quarterly Earnings Results

Lafayette Acquisition (NASDAQ:LAFA) issued its quarterly earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, FiscalAI reports.

Lafayette Acquisition Price Performance

Shares of LAFA remained flat at $10.01 during mid-day trading on Friday. The stock’s 50-day moving average price is $9.99. Lafayette Acquisition has a 52 week low of $9.87 and a 52 week high of $10.20.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Lafayette Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Lafayette Acquisition currently has an average rating of “Sell”.

Hedge Funds Weigh In On Lafayette Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Arbitrage LLC bought a new stake in shares of Lafayette Acquisition in the fourth quarter valued at about $6,530,000. Polar Asset Management Partners Inc. purchased a new position in Lafayette Acquisition during the 4th quarter valued at about $4,950,000. Aristeia Capital L.L.C. purchased a new position in shares of Lafayette Acquisition in the 4th quarter valued at approximately $3,960,000. Verition Fund Management LLC acquired a new stake in Lafayette Acquisition in the 4th quarter worth approximately $3,628,000. Finally, Sona Asset Management US LLC purchased a new stake in Lafayette Acquisition during the 1st quarter worth approximately $3,490,000.

Lafayette Acquisition Company Profile

Lafayette Acquisition Corp. (NASDAQ: LAFA) is a special purpose acquisition company (SPAC) formed to identify, acquire, or merge with one or more operating businesses. As a blank‑check vehicle, its primary business activity is sourcing and completing a business combination that would result in a privately held company becoming publicly traded through the SPAC structure.

The company raises capital from public market investors and typically holds the IPO proceeds in trust while its management and sponsors evaluate potential targets.