East West Ave Acquisition Corp. (NASDAQ:EWAVU) Sees Large Growth in Short Interest

East West Ave Acquisition Corp. (NASDAQ:EWAVU) was the target of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 924 shares, a growth of 176.6% from the September 15th total of 334 shares. Based on an average daily trading volume, of 29,904 shares, the days-to-cover ratio is presently 0.0 days.

Insider Transactions at East West Ave Acquisition

In related news, insider Space Summit Capital Llc bought 1,087,000 shares of the company’s stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $10.00 per share, with a total value of $10,870,000.00. Following the completion of the acquisition, the insider owned 1,087,000 shares of the company’s stock, valued at $10,870,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

East West Ave Acquisition Stock Performance

EWAVU stock traded up $0.02 during trading on Monday, hitting $10.03. 597 shares of the stock traded hands, compared to its average volume of 66,639. East West Ave Acquisition has a 1 year low of $9.91 and a 1 year high of $10.40. The stock has a 50 day simple moving average of $10.01.

Analysts Set New Price Targets

Separately, Wall Street Zen raised East West Ave Acquisition to a “hold” rating in a research note on Saturday, August 15th.

East West Ave Acquisition Company Profile

We are a newly organized blank check company formed as a Nevada corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Throughout this prospectus we will refer to this as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.