EGH Acquisition Corp. (NASDAQ:EGHA) Short Interest Up 1,375.9% in May

EGH Acquisition Corp. (NASDAQ:EGHA) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 14,966 shares, a growth of 1,375.9% from the April 30th total of 1,014 shares. Based on an average daily trading volume, of 48,248 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Hedge Funds Weigh In On EGH Acquisition

Several institutional investors have recently modified their holdings of EGHA. ABC Arbitrage SA acquired a new position in shares of EGH Acquisition during the 4th quarter worth about $304,000. DLD Asset Management LP acquired a new position in shares of EGH Acquisition during the 1st quarter worth about $347,000. Lineage Point Capital LP acquired a new position in shares of EGH Acquisition during the 4th quarter worth about $465,000. Toronto Dominion Bank grew its position in shares of EGH Acquisition by 252.2% during the 4th quarter. Toronto Dominion Bank now owns 177,958 shares of the company’s stock worth $1,803,000 after buying an additional 127,436 shares during the period. Finally, TIG Advisors LLC acquired a new position in shares of EGH Acquisition during the 4th quarter worth about $2,052,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings initiated coverage on EGH Acquisition in a report on Tuesday, January 27th. They issued a “sell (e+)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

EGH Acquisition Stock Down 0.1%

EGHA stock traded down $0.01 during midday trading on Wednesday, reaching $10.34. The stock had a trading volume of 15,267 shares, compared to its average volume of 34,994. The business’s fifty day moving average price is $10.26. EGH Acquisition has a twelve month low of $9.31 and a twelve month high of $10.80.

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.