ITHAX Acquisition Corp III (NASDAQ:ITHA) Shares Shorted: Short Interest Down 39.0% in September

ITHAX Acquisition Corp III (NASDAQ:ITHA) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 1,351 shares, a drop of 39.0% from the September 15th total of 2,215 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 27,001 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On ITHAX Acquisition Corp III

An institutional investor recently bought a new position in ITHAX Acquisition Corp III stock. BlueCrest Capital Management Ltd purchased a new stake in ITHAX Acquisition Corp III (NASDAQ:ITHA) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 650,000 shares of the company’s stock, valued at approximately $6,487,000. BlueCrest Capital Management Ltd owned about 2.44% of ITHAX Acquisition Corp III as of its most recent SEC filing.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of ITHAX Acquisition Corp III from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, ITHAX Acquisition Corp III currently has a consensus rating of “Sell”.

ITHAX Acquisition Corp III Price Performance

Shares of ITHA traded up $0.02 during trading hours on Friday, reaching $10.09. 595,101 shares of the company traded hands, compared to its average volume of 29,531. The business has a fifty day moving average price of $10.06 and a 200-day moving average price of $10.00. ITHAX Acquisition Corp III has a 12-month low of $9.85 and a 12-month high of $10.11.

ITHAX Acquisition Corp III Company Profile

ITHAX Acquisition Corp III is a special purpose acquisition company (SPAC) listed on the Nasdaq under the symbol ITHA. The company was formed to pursue a business combination with one or more operating companies through a merger, share exchange, asset acquisition, reorganization or similar transaction.

Unlike an operating business, ITHAX Acquisition Corp III does not currently provide products or services of its own. Its activities are primarily focused on evaluating potential acquisition targets, negotiating a transaction and completing a business combination that would result in a publicly traded operating company.

The company may consider targets in a range of industries and geographic markets, subject to the investment criteria established by its management and governing documents.