Launch One Acquisition Corp. (NASDAQ:LPAA) Sees Large Drop in Short Interest

Launch One Acquisition Corp. (NASDAQ:LPAA) was the target of a large drop in short interest in June. As of June 30th, there was short interest totaling 855 shares, a drop of 37.6% from the June 15th total of 1,370 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 34,512 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Launch One Acquisition in a report on Monday, June 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LPAA. Berkley W R Corp raised its holdings in Launch One Acquisition by 4.5% in the 1st quarter. Berkley W R Corp now owns 1,487,125 shares of the company’s stock worth $15,927,000 after purchasing an additional 63,835 shares in the last quarter. Toronto Dominion Bank raised its stake in Launch One Acquisition by 68.9% during the 4th quarter. Toronto Dominion Bank now owns 244,904 shares of the company’s stock worth $2,594,000 after acquiring an additional 99,904 shares during the period. Crossingbridge Advisors LLC purchased a new position in shares of Launch One Acquisition in the fourth quarter valued at about $878,000. Wolverine Asset Management LLC boosted its holdings in shares of Launch One Acquisition by 45.4% during the 4th quarter. Wolverine Asset Management LLC now owns 1,016,497 shares of the company’s stock valued at $10,765,000 after purchasing an additional 317,318 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Launch One Acquisition by 200.0% in the third quarter. Quarry LP now owns 150,000 shares of the company’s stock valued at $1,575,000 after purchasing an additional 100,000 shares in the last quarter.

Launch One Acquisition Price Performance

LPAA stock opened at $10.85 on Friday. Launch One Acquisition has a 12 month low of $10.39 and a 12 month high of $11.67. The firm has a 50-day moving average price of $10.84 and a 200-day moving average price of $10.74.

Launch One Acquisition (NASDAQ:LPAA) last released its earnings results on Thursday, May 14th. The company reported $0.06 EPS for the quarter. The business had revenue of $2.17 million for the quarter.

About Launch One Acquisition

Launch One Acquisition Corp is a blank check company incorporated in Delaware. Its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Shares and warrants of the company trade on the Nasdaq Global Market under the ticker symbols “LPAA” and “LPAAW.”

The company completed its initial public offering in 2021, raising gross proceeds through the sale of units, each consisting of one share of common stock and one quarter of a warrant.