Columbus Acquisition Corp/Cayman Islands (NASDAQ:COLA) Sees Large Decline in Short Interest

Columbus Acquisition Corp/Cayman Islands (NASDAQ:COLA) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 8,381 shares, a decline of 37.9% from the September 15th total of 13,496 shares. Based on an average trading volume of 34,411 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Columbus Acquisition Corp/Cayman Islands

An institutional investor recently bought a new stake in Columbus Acquisition Corp/Cayman Islands stock. Citadel Advisors LLC acquired a new position in Columbus Acquisition Corp/Cayman Islands (NASDAQ:COLA) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,545 shares of the company’s stock, valued at approximately $144,000.

Columbus Acquisition Corp/Cayman Islands Stock Performance

Shares of COLA remained flat at $2.86 during trading hours on Friday. Columbus Acquisition Corp/Cayman Islands has a fifty-two week low of $2.79 and a fifty-two week high of $12.95. The firm’s 50 day moving average price is $8.82 and its 200-day moving average price is $10.01.

Columbus Acquisition Corp/Cayman Islands (NASDAQ:COLA) last issued its earnings results on Tuesday, August 4th. The company reported $0.02 earnings per share for the quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COLA. Weiss Ratings reissued a “sell (d)” rating on shares of Columbus Acquisition Corp/Cayman Islands in a report on Friday, September 25th. Wall Street Zen downgraded shares of Columbus Acquisition Corp/Cayman Islands from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, Columbus Acquisition Corp/Cayman Islands has an average rating of “Sell”.

About Columbus Acquisition Corp/Cayman Islands

Columbus Acquisition Corp. is a Cayman Islands–incorporated special purpose acquisition company, or SPAC. The company was formed to identify and combine with one or more businesses through a merger, share exchange, asset acquisition, share purchase, recapitalization, or similar transaction.

Unlike an operating company, Columbus Acquisition Corp. does not primarily develop, manufacture, or sell products and services. Its activities are focused on evaluating potential acquisition targets and completing an initial business combination.