NewHold Investment Corp III (NASDAQ:NHIC) Trading Up 0.1% – Still a Buy?

NewHold Investment Corp III (NASDAQ:NHIC) shares rose 0.1% during trading on Friday . The stock traded as high as $10.65 and last traded at $10.62. Approximately 80,594 shares changed hands during mid-day trading, a decline of 36% from the average daily volume of 125,720 shares. The stock had previously closed at $10.61.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of NewHold Investment Corp III in a report on Wednesday, July 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

NewHold Investment Corp III Trading Up 0.1%

The stock has a market cap of $293.22 million, a P/E ratio of -151.71 and a beta of 0.30. The company’s 50 day moving average price is $10.80 and its two-hundred day moving average price is $10.63.

NewHold Investment Corp III (NASDAQ:NHIC) last announced its earnings results on Wednesday, August 12th. The company reported ($0.12) earnings per share (EPS) for the quarter. The company had revenue of $3.74 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NHIC. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in shares of NewHold Investment Corp III in the 2nd quarter worth $9,950,000. Hudson Bay Capital Management LP bought a new position in NewHold Investment Corp III in the 2nd quarter worth $8,922,000. Radcliffe Capital Management L.P. lifted its position in NewHold Investment Corp III by 13.7% during the fourth quarter. Radcliffe Capital Management L.P. now owns 560,971 shares of the company’s stock valued at $5,814,000 after purchasing an additional 67,767 shares in the last quarter. Meteora Capital LLC purchased a new position in NewHold Investment Corp III during the fourth quarter valued at $4,915,000. Finally, Kryger Capital LLC bought a new stake in NewHold Investment Corp III during the first quarter valued at about $4,175,000.

NewHold Investment Corp III Company Profile

NewHold Investment Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination, with one or more target businesses. The company was formerly known as NewHold Industrial Corp. and changed its name to NewHold Investment Corp. in February 2020. NewHold Investment Corp. was incorporated in 2020 and is based in Houston, Texas.