Starboard Value Acquisition Corp. (NASDAQ:SVAC) Short Interest Update

Starboard Value Acquisition Corp. (NASDAQ:SVAC) was the target of a significant decline in short interest in June. As of June 15th, there was short interest totaling 27,197 shares, a decline of 57.5% from the May 31st total of 63,986 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 112,154 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Starboard Value Acquisition Stock Performance

Shares of SVAC traded up $0.01 during midday trading on Monday, hitting $10.27. 21,443 shares of the company’s stock traded hands, compared to its average volume of 309,027. Starboard Value Acquisition has a 1 year low of $10.03 and a 1 year high of $12.00. The firm’s fifty day moving average is $10.44 and its 200-day moving average is $10.38.

Starboard Value Acquisition (NASDAQ:SVAC) last announced its earnings results on Thursday, May 14th. The company reported ($13.80) earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Starboard Value Acquisition

Hedge funds and other institutional investors have recently modified their holdings of the stock. Picton Mahoney Asset Management acquired a new stake in Starboard Value Acquisition in the 4th quarter worth approximately $10,360,000. Alberta Investment Management Corp acquired a new position in Starboard Value Acquisition during the 4th quarter valued at approximately $10,150,000. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in shares of Starboard Value Acquisition in the fourth quarter worth $10,150,000. Fort Baker Capital Management LP purchased a new position in shares of Starboard Value Acquisition in the fourth quarter worth $9,648,000. Finally, AQR Arbitrage LLC acquired a new stake in shares of Starboard Value Acquisition during the fourth quarter worth $9,481,000.

About Starboard Value Acquisition

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.