Cal Redwood Acquisition Corp. (NASDAQ:CRAQ) Shares Shorted: Short Interest Down 55.8% in September

Cal Redwood Acquisition Corp. (NASDAQ:CRAQ) was the target of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 244 shares, a drop of 55.8% from the September 15th total of 552 shares. Based on an average daily trading volume, of 45,995 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Cal Redwood Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has an average rating of “Sell”.

Cal Redwood Acquisition Stock Performance

Shares of CRAQ stock traded up $0.02 during midday trading on Wednesday, hitting $10.43. 78,116 shares of the company were exchanged, compared to its average volume of 57,215. Cal Redwood Acquisition has a 52 week low of $10.04 and a 52 week high of $10.43. The firm’s 50 day moving average price is $10.38 and its two-hundred day moving average price is $10.30.

Cal Redwood Acquisition (NASDAQ:CRAQ) last released its quarterly earnings results on Monday, August 17th. The company reported $0.06 earnings per share for the quarter. The company had revenue of $2.11 million during the quarter.

Hedge Funds Weigh In On Cal Redwood Acquisition

Large investors have recently made changes to their positions in the company. Radcliffe Capital Management L.P. grew its holdings in Cal Redwood Acquisition by 16.3% in the 4th quarter. Radcliffe Capital Management L.P. now owns 545,628 shares of the company’s stock valued at $5,524,000 after buying an additional 76,582 shares in the last quarter. Sona Asset Management US LLC acquired a new stake in shares of Cal Redwood Acquisition during the first quarter worth $3,086,000. Finally, Lineage Point Capital LP acquired a new stake in shares of Cal Redwood Acquisition during the fourth quarter worth $2,846,000.

Cal Redwood Acquisition Company Profile

Cal Redwood Acquisition Corp. (NASDAQ: CRAQ) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Potential transactions may include a merger, stock exchange, asset acquisition, reorganization or similar corporate combination.

As a SPAC, Cal Redwood Acquisition does not operate a conventional business or currently offer products and services to customers. Its activities are primarily focused on evaluating potential acquisition targets and completing a transaction that would allow a private company to become publicly traded.

Information about a completed operating combination, specific target industries, geographic markets and company leadership is limited.