TENOR CAPITAL MANAGEMENT Co. L.P. Makes New Investment in GX Acquisition Corp. (NASDAQ:GXGX)

TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in shares of GX Acquisition Corp. (NASDAQ:GXGX) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 800,000 shares of the company’s stock, valued at approximately $8,064,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GXGX. Sage Mountain Advisors LLC bought a new stake in shares of GX Acquisition during the fourth quarter valued at approximately $470,000. Davidson Kempner Capital Management LP bought a new stake in shares of GX Acquisition during the fourth quarter valued at approximately $7,968,000. Susquehanna International Group LLP bought a new stake in shares of GX Acquisition during the fourth quarter valued at approximately $349,000. Havens Advisors LLC bought a new stake in shares of GX Acquisition during the first quarter valued at approximately $202,000. Finally, Belvedere Trading LLC bought a new stake in shares of GX Acquisition during the first quarter valued at approximately $1,324,000. 61.65% of the stock is currently owned by institutional investors.

Shares of NASDAQ GXGX traded down $1.55 during mid-day trading on Thursday, reaching $9.49. 882,447 shares of the company traded hands, compared to its average volume of 1,185,680. GX Acquisition Corp. has a fifty-two week low of $7.73 and a fifty-two week high of $12.58. The company has a fifty day moving average of $10.12.

GX Acquisition (NASDAQ:GXGX) last posted its quarterly earnings data on Sunday, May 23rd. The company reported $2.48 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.14) by $2.62.

Separately, BTIG Research assumed coverage on shares of GX Acquisition in a research note on Friday, March 26th. They set a “buy” rating and a $16.00 price objective on the stock.

GX Acquisition Company Profile

GX Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2018 and is based in New York, New York.

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Institutional Ownership by Quarter for GX Acquisition (NASDAQ:GXGX)

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