GP-Act III Acquisition Corp. (NASDAQ:GPAT) Short Interest Update

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 3,999 shares, an increase of 458.5% from the May 31st total of 716 shares. Based on an average trading volume of 4,423 shares, the short-interest ratio is presently 0.9 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

GP-Act III Acquisition Trading Up 1.6%

Shares of NASDAQ:GPAT traded up $0.17 during trading on Friday, reaching $11.05. 300 shares of the company traded hands, compared to its average volume of 143,476. The firm has a fifty day simple moving average of $10.88 and a 200 day simple moving average of $10.80. GP-Act III Acquisition has a 1-year low of $10.50 and a 1-year high of $12.00.

GP-Act III Acquisition (NASDAQ:GPAT) last issued its earnings results on Thursday, May 14th. The company reported $0.06 earnings per share for the quarter.

Institutional Trading of GP-Act III Acquisition

Several large investors have recently added to or reduced their stakes in the business. Longfellow Investment Management Co. LLC bought a new position in shares of GP-Act III Acquisition during the 3rd quarter valued at $83,000. Bank of America Corp DE bought a new stake in GP-Act III Acquisition in the third quarter worth $85,000. Clear Street Group Inc. bought a new stake in GP-Act III Acquisition in the third quarter worth $109,000. Cannon Global Investment Management LLC increased its position in GP-Act III Acquisition by 38.1% during the fourth quarter. Cannon Global Investment Management LLC now owns 14,500 shares of the company’s stock worth $155,000 after buying an additional 4,000 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new position in GP-Act III Acquisition during the third quarter valued at about $203,000.

About GP-Act III Acquisition

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.