Eureka Acquisition Corp. (NASDAQ:EURK) Short Interest Up 59.3% in August

Eureka Acquisition Corp. (NASDAQ:EURK) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 462 shares, an increase of 59.3% from the August 15th total of 290 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,492 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Eureka Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Investors Weigh In On Eureka Acquisition

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Berkley W R Corp raised its stake in shares of Eureka Acquisition by 3.2% in the 1st quarter. Berkley W R Corp now owns 315,488 shares of the company’s stock valued at $3,578,000 after acquiring an additional 9,860 shares during the period. Clear Street Group Inc. raised its position in Eureka Acquisition by 35.4% in the fourth quarter. Clear Street Group Inc. now owns 92,366 shares of the company’s stock valued at $1,009,000 after purchasing an additional 24,135 shares during the period. Finally, Polar Asset Management Partners Inc. lifted its stake in 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 purchasing an additional 110,000 shares in the last quarter.

Eureka Acquisition Stock Down 1.6%

Shares of EURK stock opened at $11.30 on Friday. The firm’s 50-day moving average is $11.71 and its two-hundred day moving average is $11.51. Eureka Acquisition has a 12 month low of $10.68 and a 12 month high of $14.28.

Eureka Acquisition (NASDAQ:EURK) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.12 earnings per share for the quarter.

About Eureka Acquisition

Eureka Acquisition Corp. (NASDAQ: EURK) is a special purpose acquisition company (SPAC), also known as a blank-check company. Its primary purpose is to identify and complete a business combination with an operating company or other business.

Unlike an operating company, Eureka Acquisition does not have established commercial products or services of its own. The company’s activities are focused on evaluating potential merger, acquisition, or similar transactions and completing a transaction that meets the requirements of its corporate structure and shareholders.

Publicly available information about Eureka Acquisition’s specific target, operating activities, geographic markets, and leadership is limited.