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

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 2,049 shares, a decrease of 41.1% from the July 15th total of 3,478 shares. Based on an average daily trading volume, of 37,374 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in GPAT. Bank of America Corp DE acquired a new position in GP-Act III Acquisition in the 3rd quarter valued at approximately $85,000. Cannon Global Investment Management LLC raised its position in GP-Act III Acquisition by 38.1% during the 4th quarter. Cannon Global Investment Management LLC now owns 14,500 shares of the company’s stock worth $155,000 after purchasing an additional 4,000 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in GP-Act III Acquisition during the 3rd quarter worth $203,000. Lineage Point Capital LP acquired a new position in GP-Act III Acquisition during the 4th quarter worth about $695,000. Finally, Shaolin Capital Management LLC bought a new stake in shares of GP-Act III Acquisition in the 2nd quarter valued at about $1,055,000.

GP-Act III Acquisition Stock Performance

Shares of GPAT stock opened at $11.04 on Monday. GP-Act III Acquisition has a twelve month low of $10.50 and a twelve month high of $12.00. The stock’s fifty day simple moving average is $11.01 and its 200 day simple moving average is $10.89.

GP-Act III Acquisition (NASDAQ:GPAT) last posted its earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GP-Act III Acquisition in a research report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, GP-Act III Acquisition presently has an average 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.