Eureka Acquisition Corp. (NASDAQ:EURK) Sees Significant Decline in Short Interest

Eureka Acquisition Corp. (NASDAQ:EURK) was the recipient of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 354 shares, a decrease of 93.9% from the June 30th total of 5,788 shares. Based on an average trading volume of 6,484 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Eureka Acquisition in a research note on Monday, June 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On Eureka Acquisition

Several hedge funds have recently added to or reduced their stakes in EURK. Berkley W R Corp raised its holdings in Eureka Acquisition by 3.2% during the 1st quarter. Berkley W R Corp now owns 315,488 shares of the company’s stock worth $3,578,000 after purchasing an additional 9,860 shares during the last quarter. Clear Street Group Inc. raised its stake in shares of Eureka Acquisition by 35.4% during the fourth quarter. Clear Street Group Inc. now owns 92,366 shares of the company’s stock worth $1,009,000 after buying an additional 24,135 shares during the last quarter. Polar Asset Management Partners Inc. raised its stake in shares of Eureka Acquisition by 193.0% during the first quarter. Polar Asset Management Partners Inc. now owns 167,000 shares of the company’s stock worth $1,894,000 after buying an additional 110,000 shares during the last quarter. Finally, Meteora Capital LLC acquired a new position in Eureka Acquisition in the third quarter valued at approximately $1,386,000.

Eureka Acquisition Stock Down 2.4%

NASDAQ:EURK traded down $0.28 during trading hours on Friday, hitting $11.71. 1,559 shares of the stock were exchanged, compared to its average volume of 8,264. The company’s 50 day moving average is $11.62 and its two-hundred day moving average is $11.36. Eureka Acquisition has a twelve month low of $10.59 and a twelve month high of $14.28.

Eureka Acquisition (NASDAQ:EURK) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.12 EPS for the quarter.

About Eureka Acquisition

Eureka Acquisition Co (NASDAQ: EURK) is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. As a blank‐check vehicle, the company raised capital through an initial public offering to pursue mergers, acquisitions or other business combinations. Eureka Acquisition does not engage in any operational business activities of its own and has not yet announced a definitive target or transaction.

The company’s charter provides a fixed time frame—typically 24 to 36 months—to identify and complete a qualifying business combination.