Lafayette Acquisition Corp. (NASDAQ:LAFA) Sees Large Decrease in Short Interest

Lafayette Acquisition Corp. (NASDAQ:LAFA) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 75 shares, a decline of 54.3% from the August 31st total of 164 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 5,119 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Lafayette Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Lafayette Acquisition Stock Up 0.0%

Lafayette Acquisition stock traded up $0.01 during mid-day trading on Monday, reaching $10.20. 136,024 shares of the company were exchanged, compared to its average volume of 34,899. The business has a fifty day moving average of $10.15 and a 200 day moving average of $10.08. Lafayette Acquisition has a 12-month low of $9.87 and a 12-month high of $10.20.

Lafayette Acquisition (NASDAQ:LAFA) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Lafayette Acquisition

A number of large investors have recently added to or reduced their stakes in LAFA. Aristeia Capital L.L.C. bought a new stake in shares of Lafayette Acquisition in the 4th quarter valued at about $3,960,000. Sona Asset Management US LLC purchased a new position in shares of Lafayette Acquisition in the 1st quarter worth approximately $3,490,000. Lineage Point Capital LP bought a new position in shares of Lafayette Acquisition during the 4th quarter worth approximately $3,076,000. Rivernorth Capital Management LLC bought a new position in shares of Lafayette Acquisition during the 1st quarter worth approximately $2,991,000. Finally, 683 Capital Management LLC purchased a new stake in Lafayette Acquisition during the fourth quarter valued at approximately $2,475,000.

About Lafayette Acquisition

Lafayette Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transactions may include a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar combination.

As a SPAC, Lafayette Acquisition Corp. does not have significant operating products or services of its own. Instead, its activities center on evaluating prospective target businesses, conducting due diligence and seeking shareholder approval for a transaction.