Short Interest in GP-Act III Acquisition Corp. (NASDAQ:GPAT) Decreases By 63.9%

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 1,499 shares, a drop of 63.9% from the April 15th total of 4,148 shares. Based on an average trading volume of 174,496 shares, the short-interest ratio is presently 0.0 days.

GP-Act III Acquisition Price Performance

Shares of GPAT stock traded up $0.01 on Thursday, reaching $10.90. 2,280 shares of the company’s stock were exchanged, compared to its average volume of 153,137. GP-Act III Acquisition has a 52 week low of $10.42 and a 52 week high of $11.00. The company’s fifty day simple moving average is $10.84 and its 200 day simple moving average is $10.75.

GP-Act III Acquisition (NASDAQ:GPAT) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.06 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On GP-Act III Acquisition

Institutional investors and hedge funds have recently bought and sold shares of the company. Longfellow Investment Management Co. LLC bought a new stake in GP-Act III Acquisition during the 3rd quarter valued at $83,000. Bank of America Corp DE bought a new stake in GP-Act III Acquisition during the 3rd quarter valued at $85,000. Clear Street Group Inc. bought a new stake in GP-Act III Acquisition during the 3rd quarter valued at $109,000. Cannon Global Investment Management LLC bought a new stake in GP-Act III Acquisition during the 3rd quarter valued at $111,000. Finally, TrueMark Investments LLC bought a new stake in GP-Act III Acquisition during the 3rd quarter valued at $178,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of GP-Act III Acquisition in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.