Range Capital Acquisition Corp. (NASDAQ:RANG) Sees Significant Increase in Short Interest

Range Capital Acquisition Corp. (NASDAQ:RANG) saw a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 3,558 shares, an increase of 235.7% from the July 30th total of 1,060 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 1,583 shares, the short-interest ratio is currently 2.2 days.

Hedge Funds Weigh In On Range Capital Acquisition

Several large investors have recently modified their holdings of RANG. Berkley W R Corp grew its stake in Range Capital Acquisition by 0.9% in the first quarter. Berkley W R Corp now owns 577,081 shares of the company’s stock worth $6,074,000 after purchasing an additional 5,021 shares in the last quarter. Glazer Capital LLC acquired a new stake in Range Capital Acquisition during the fourth quarter valued at approximately $104,000. Jane Street Group LLC acquired a new stake in Range Capital Acquisition during the second quarter valued at approximately $112,000. Radcliffe Capital Management L.P. bought a new position in Range Capital Acquisition during the 2nd quarter worth approximately $188,000. Finally, Virtu Financial LLC bought a new position in Range Capital Acquisition during the 4th quarter worth approximately $444,000.

Range Capital Acquisition Stock Down 0.1%

Shares of RANG stock traded down $0.01 during mid-day trading on Friday, reaching $10.79. 884 shares of the company were exchanged, compared to its average volume of 30,063. Range Capital Acquisition has a fifty-two week low of $10.25 and a fifty-two week high of $11.66. The business’s 50 day simple moving average is $10.72 and its 200 day simple moving average is $10.61.

Range Capital Acquisition (NASDAQ:RANG) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.05 earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Range Capital Acquisition from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Range Capital Acquisition Company Profile

Range Capital Acquisition Corp is a publicly traded special purpose acquisition company (SPAC) listed on the NASDAQ under the symbol RANG. The company was formed to raise capital through an initial public offering with the goal of effecting a merger, stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. As a blank‐check vehicle, it does not currently operate any underlying business but seeks to identify a suitable target that aligns with its investment criteria.

The SPAC is sponsored by Range Capital Partners, a private equity firm with a background in investing across industrial, energy and infrastructure sectors.