Short Interest in Futurewave Acquisition Corp (NASDAQ:FWACU) Declines By 79.6%

Futurewave Acquisition Corp (NASDAQ:FWACU) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 160 shares, a decline of 79.6% from the August 15th total of 784 shares. Based on an average daily volume of 90 shares, the days-to-cover ratio is presently 1.8 days.

Futurewave Acquisition Stock Performance

Shares of NASDAQ FWACU opened at $10.24 on Friday. The company’s 50 day moving average price is $10.11. Futurewave Acquisition has a 52-week low of $10.00 and a 52-week high of $10.24.

Institutional Trading of Futurewave Acquisition

A hedge fund recently raised its stake in Futurewave Acquisition stock. Readystate Asset Management LP boosted its position in Futurewave Acquisition Corp (NASDAQ:FWACU) by 127.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,357 shares of the company’s stock after purchasing an additional 37,694 shares during the quarter. Readystate Asset Management LP’s holdings in Futurewave Acquisition were worth $694,000 at the end of the most recent quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Futurewave Acquisition to a “hold” rating in a research note on Saturday, July 4th.

About Futurewave Acquisition

Futurewave Acquisition Corp. is a special purpose acquisition company (SPAC) formed to pursue a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. Companies like Futurewave Acquisition are typically created to help identify and combine with an operating business, rather than to run a traditional commercial operation themselves.

As a blank check company, Futurewave Acquisition does not provide a broad portfolio of products or services in the conventional sense.