GP-Act III Acquisition Corp. (NASDAQ:GPAT) Sees Significant Drop in Short Interest

GP-Act III Acquisition Corp. (NASDAQ:GPAT) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 2,049 shares, a decrease of 41.1% from the July 15th total of 3,478 shares. Based on an average daily volume of 37,374 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GP-Act III Acquisition in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

GP-Act III Acquisition Trading Down 0.9%

Shares of GPAT stock traded down $0.10 on Wednesday, hitting $11.06. The company’s stock had a trading volume of 106 shares, compared to its average volume of 127,149. The stock’s 50 day moving average is $11.02 and its 200-day moving average is $10.89. GP-Act III Acquisition has a fifty-two week low of $10.52 and a fifty-two week high of $12.00.

GP-Act III Acquisition (NASDAQ:GPAT) last posted its quarterly earnings data on Friday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On GP-Act III Acquisition

Institutional investors have recently made changes to their positions in the stock. Verition Fund Management LLC grew its stake in GP-Act III Acquisition by 0.7% during the fourth quarter. Verition Fund Management LLC now owns 229,124 shares of the company’s stock worth $2,452,000 after buying an additional 1,500 shares in the last quarter. Cannon Global Investment Management LLC raised its position in shares of GP-Act III Acquisition by 15.2% in the 1st quarter. Cannon Global Investment Management LLC now owns 16,700 shares of the company’s stock valued at $181,000 after buying an additional 2,200 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of GP-Act III Acquisition in the 3rd quarter valued at approximately $85,000. Berkley W R Corp raised its position in shares of GP-Act III Acquisition by 4.8% in the 4th quarter. Berkley W R Corp now owns 312,290 shares of the company’s stock valued at $3,338,000 after buying an additional 14,298 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of GP-Act III Acquisition during the 3rd quarter worth approximately $203,000.

About GP-Act III Acquisition

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.