Starboard Value Acquisition (NASDAQ:SVAC) Sees Large Volume Increase – Should You Buy?

Starboard Value Acquisition Corp. (NASDAQ:SVAC) shares saw unusually-strong trading volume on Tuesday . Approximately 815,311 shares traded hands during trading, an increase of 213% from the previous session’s volume of 260,500 shares.The stock last traded at $10.3110 and had previously closed at $10.33.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Starboard Value Acquisition Stock Down 0.2%

The firm has a 50 day simple moving average of $10.43 and a two-hundred day simple moving average of $10.39.

Starboard Value Acquisition (NASDAQ:SVAC) last posted its earnings results on Thursday, May 14th. The company reported ($13.80) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SVAC. Clear Street Group Inc. acquired a new stake in Starboard Value Acquisition in the fourth quarter worth $73,000. Virtu Financial LLC acquired a new position in shares of Starboard Value Acquisition in the 4th quarter valued at $186,000. Cannon Global Investment Management LLC acquired a new position in shares of Starboard Value Acquisition in the 1st quarter valued at $279,000. Readystate Asset Management LP bought a new stake in shares of Starboard Value Acquisition in the 1st quarter valued at $311,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Starboard Value Acquisition in the 4th quarter valued at $445,000.

About Starboard Value Acquisition

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.