Starboard Value Acquisition Corp. (NASDAQ:SVAC) Short Interest Up 77.7% in April

Starboard Value Acquisition Corp. (NASDAQ:SVAC) saw a significant increase in short interest in the month of April. As of April 30th, there was short interest totaling 52,017 shares, an increase of 77.7% from the April 15th total of 29,276 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 177,519 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Starboard Value Acquisition

Institutional investors have recently modified their holdings of the company. Picton Mahoney Asset Management purchased a new stake in Starboard Value Acquisition during the fourth quarter worth $10,360,000. Alberta Investment Management Corp purchased a new position in shares of Starboard Value Acquisition in the fourth quarter valued at $10,150,000. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in shares of Starboard Value Acquisition during the 4th quarter worth $10,150,000. Fort Baker Capital Management LP purchased a new stake in shares of Starboard Value Acquisition in the 4th quarter worth about $9,648,000. Finally, AQR Arbitrage LLC purchased a new stake in shares of Starboard Value Acquisition in the 4th quarter worth about $9,481,000.

Starboard Value Acquisition Stock Performance

Shares of SVAC remained flat at $10.52 during mid-day trading on Tuesday. 1,028 shares of the stock traded hands, compared to its average volume of 286,668. Starboard Value Acquisition has a twelve month low of $10.03 and a twelve month high of $12.00. The company has a fifty day simple moving average of $10.30 and a 200 day simple moving average of $10.37.

Starboard Value Acquisition (NASDAQ:SVAC) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($13.80) earnings per share (EPS) for the quarter.

Starboard Value Acquisition Company Profile

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.