Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) Sees Large Growth in Short Interest

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 17,773 shares, an increase of 881.4% from the June 15th total of 1,811 shares. Based on an average trading volume of 95,629 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are short sold.

Crown Reserve Acquisition Corp. I Stock Up 0.1%

Crown Reserve Acquisition Corp. I stock traded up $0.01 during trading hours on Friday, reaching $10.13. The stock had a trading volume of 19,640 shares, compared to its average volume of 61,386. Crown Reserve Acquisition Corp. I has a 52 week low of $9.89 and a 52 week high of $10.15. The company’s fifty day simple moving average is $10.10.

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.01) EPS for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CRAC. Polar Asset Management Partners Inc. bought a new stake in shares of Crown Reserve Acquisition Corp. I in the 4th quarter worth approximately $14,811,000. Magnetar Financial LLC purchased a new stake in Crown Reserve Acquisition Corp. I in the fourth quarter worth $14,761,000. Lineage Point Capital LP purchased a new stake in Crown Reserve Acquisition Corp. I in the fourth quarter worth $7,614,000. Westchester Capital Management LLC bought a new stake in Crown Reserve Acquisition Corp. I in the fourth quarter valued at $6,063,000. Finally, Crossingbridge Advisors LLC purchased a new position in Crown Reserve Acquisition Corp. I during the 4th quarter valued at $5,973,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Crown Reserve Acquisition Corp. I from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Crown Reserve Acquisition Corp. I Company Profile

Crown Reserve Acquisition Corp. I (NASDAQ: CRAC) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank‑check vehicle, the company was formed to raise capital through a public offering with the primary aim of identifying, negotiating and completing a business combination with one or more operating businesses. Prior to consummation of a qualifying transaction, Crown Reserve Acquisition Corp. I does not engage in substantive commercial operations beyond the activities necessary to carry out its formation and capital‑raising objectives.

The company’s principal activities include managing proceeds raised in its initial public offering, maintaining those funds in trust accounts, conducting due diligence on prospective targets and pursuing mergers, acquisitions or other strategic combinations that would enable the combined entity to become an operating public company.