GP-Act III Acquisition Corp. (NASDAQ:GPAT) Sees Significant Decrease in Short Interest

GP-Act III Acquisition Corp. (NASDAQ:GPAT) saw a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 1,629 shares, a decrease of 46.1% from the February 12th total of 3,023 shares. Based on an average daily volume of 24,860 shares, the short-interest ratio is presently 0.1 days. Based on an average daily volume of 24,860 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of GP-Act III Acquisition

Several institutional investors have recently modified their holdings of the stock. Alberta Investment Management Corp acquired a new position in shares of GP-Act III Acquisition in the 2nd quarter valued at $17,144,000. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in GP-Act III Acquisition during the 2nd quarter worth $2,638,000. Meteora Capital LLC purchased a new stake in GP-Act III Acquisition in the second quarter valued at $20,330,000. Wolverine Asset Management LLC lifted its position in GP-Act III Acquisition by 90.6% in the third quarter. Wolverine Asset Management LLC now owns 954,866 shares of the company’s stock valued at $10,122,000 after acquiring an additional 453,866 shares during the last quarter. Finally, Clear Street LLC boosted its stake in GP-Act III Acquisition by 8,429.8% in the second quarter. Clear Street LLC now owns 10,321 shares of the company’s stock valued at $109,000 after acquiring an additional 10,200 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GP-Act III Acquisition in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

GP-Act III Acquisition Price Performance

Shares of NASDAQ GPAT traded up $0.01 during midday trading on Thursday, hitting $10.79. 102,940 shares of the company’s stock were exchanged, compared to its average volume of 24,675. The firm’s fifty day simple moving average is $10.74 and its 200-day simple moving average is $10.68. GP-Act III Acquisition has a twelve month low of $10.27 and a twelve month high of $10.80.

GP-Act III Acquisition Company Profile

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.