Starboard Value Acquisition (NASDAQ:SVAC) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Starboard Value Acquisition Corp. (NASDAQ:SVAC) saw strong trading volume on Monday . Approximately 1,274,737 shares changed hands during trading, an increase of 312% from the previous session’s volume of 309,030 shares.The stock last traded at $10.26 and had previously closed at $10.26.

Wall Street Analyst Weigh In

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

Starboard Value Acquisition Stock Down 0.0%

The firm’s 50 day simple moving average is $10.44 and its 200 day simple moving average is $10.38.

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

Hedge Funds Weigh In On Starboard Value Acquisition

Several large investors have recently bought and sold shares of the stock. Gritstone Asset Management LLC bought a new stake in shares of Starboard Value Acquisition during the 4th quarter worth about $1,015,000. Mint Tower Capital Management B.V. bought a new position in shares of Starboard Value Acquisition in the fourth quarter valued at approximately $4,568,000. MYDA Advisors LLC bought a new position in shares of Starboard Value Acquisition in the fourth quarter valued at approximately $723,000. Periscope Capital Inc. acquired a new position in shares of Starboard Value Acquisition during the fourth quarter valued at approximately $4,823,000. Finally, Aristeia Capital L.L.C. acquired a new position in shares of Starboard Value Acquisition during the fourth quarter valued at approximately $3,552,000.

Starboard Value Acquisition Company Profile

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.