Lakeshore Acquisition III (NASDAQ:LCCC) Posts Earnings Results

Lakeshore Acquisition III (NASDAQ:LCCC) released its quarterly earnings results on Thursday. The company reported $0.06 EPS for the quarter, FiscalAI reports.

Lakeshore Acquisition III Stock Performance

Shares of LCCC remained flat at $10.48 during mid-day trading on Thursday. 513 shares of the stock traded hands, compared to its average volume of 18,356. The firm has a fifty day moving average of $10.43. Lakeshore Acquisition III has a 12-month low of $10.04 and a 12-month high of $10.49.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Rivernorth Capital Management LLC raised its holdings in shares of Lakeshore Acquisition III by 33.6% in the fourth quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock worth $4,051,000 after buying an additional 100,000 shares during the last quarter. Berkley W R Corp grew its holdings in shares of Lakeshore Acquisition III by 51.3% during the first quarter. Berkley W R Corp now owns 310,796 shares of the company’s stock valued at $3,203,000 after buying an additional 105,422 shares during the last quarter. Finally, Sona Asset Management US LLC acquired a new position in shares of Lakeshore Acquisition III in the 1st quarter valued at $1,030,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Lakeshore Acquisition III in a research report on Friday, May 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

About Lakeshore Acquisition III

Lakeshore Acquisition III (NASDAQ: LCCC) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock exchange. As a blank‑check company, its primary business activity is to raise capital through an initial public offering and hold those proceeds in a trust while seeking a business combination, merger, asset acquisition or similar transaction that would bring a private operating company public through a reverse merger or other form of combination.

Prior to identifying and completing a qualifying business combination, Lakeshore Acquisition III does not operate traditional commercial businesses or offer products or services; instead, its operations are focused on target evaluation, due diligence, structuring potential transactions and managing the trust account and public‑company obligations.