Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) Short Interest Down 71.4% in June

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 1,811 shares, a drop of 71.4% from the May 31st total of 6,338 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 19,109 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Crown Reserve Acquisition Corp. I from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On Crown Reserve Acquisition Corp. I

Several hedge funds have recently made changes to their positions in CRAC. Geode Capital Management LLC bought a new stake in shares of Crown Reserve Acquisition Corp. I in the 4th quarter valued at about $534,000. Wolverine Asset Management LLC acquired a new position in shares of Crown Reserve Acquisition Corp. I during the fourth quarter worth $928,000. Boothbay Fund Management LLC acquired a new stake in shares of Crown Reserve Acquisition Corp. I in the 4th quarter worth $1,118,000. Heights Capital Management Inc. purchased a new position in Crown Reserve Acquisition Corp. I during the 4th quarter worth $1,988,000. Finally, Sona Asset Management US LLC acquired a new position in Crown Reserve Acquisition Corp. I during the 1st quarter valued at about $2,002,000.

Crown Reserve Acquisition Corp. I Stock Up 0.1%

CRAC traded up $0.01 during midday trading on Monday, reaching $10.11. The company had a trading volume of 25,416 shares, compared to its average volume of 79,115. The company’s 50-day moving average price is $10.09. Crown Reserve Acquisition Corp. I has a 1 year low of $9.89 and a 1 year high of $10.15.

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.01) EPS for the quarter.

Crown Reserve Acquisition Corp. I Company Profile

Crown Reserve Acquisition Corp. I (NASDAQ: CRAC) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank‑check vehicle, the company was formed to raise capital through a public offering with the primary aim of identifying, negotiating and completing a business combination with one or more operating businesses. Prior to consummation of a qualifying transaction, Crown Reserve Acquisition Corp. I does not engage in substantive commercial operations beyond the activities necessary to carry out its formation and capital‑raising objectives.

The company’s principal activities include managing proceeds raised in its initial public offering, maintaining those funds in trust accounts, conducting due diligence on prospective targets and pursuing mergers, acquisitions or other strategic combinations that would enable the combined entity to become an operating public company.