EGH Acquisition Corp. (NASDAQ:EGHA) Sees Significant Growth in Short Interest

EGH Acquisition Corp. (NASDAQ:EGHA) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,119 shares, an increase of 291.3% from the August 15th total of 286 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 43,952 shares, the days-to-cover ratio is presently 0.0 days.

EGH Acquisition Price Performance

EGHA opened at $10.46 on Monday. The company’s 50 day moving average is $10.36 and its 200 day moving average is $10.30. EGH Acquisition has a 12-month low of $9.31 and a 12-month high of $10.80.

Institutional Trading of EGH Acquisition

Several hedge funds have recently bought and sold shares of the stock. Citadel Advisors LLC purchased a new stake in shares of EGH Acquisition in the second quarter worth $202,000. DLD Asset Management LP bought a new position in EGH Acquisition in the 1st quarter worth $347,000. Lineage Point Capital LP purchased a new stake in EGH Acquisition in the 4th quarter worth $465,000. Toronto Dominion Bank grew its position in shares of EGH Acquisition by 252.2% during the fourth quarter. Toronto Dominion Bank now owns 177,958 shares of the company’s stock worth $1,803,000 after purchasing an additional 127,436 shares in the last quarter. Finally, TIG Advisors LLC bought a new stake in shares of EGH Acquisition during the fourth quarter valued at approximately $2,052,000.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of EGH Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

About EGH Acquisition

EGH Acquisition (NASDAQ: EGHA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses. As a blank‑check vehicle, the company’s primary business activity is to raise capital through an initial public offering and to seek qualifying target companies for a business combination that would result in the target becoming a publicly listed entity.

Like other SPACs, EGH Acquisition typically holds the proceeds of its offering in trust while it evaluates potential targets and transaction structures.