KRAKacquisition Corp (NASDAQ:KRAQ) Sees Large Increase in Short Interest

KRAKacquisition Corp (NASDAQ:KRAQ) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,056 shares, a growth of 58.8% from the August 15th total of 665 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 41,287 shares, the days-to-cover ratio is currently 0.0 days.

Analyst Ratings Changes

Separately, Weiss Ratings raised KRAKacquisition from a “sell (e)” rating to a “sell (e+)” rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

KRAKacquisition Price Performance

KRAKacquisition stock opened at $10.03 on Friday. The stock has a fifty day simple moving average of $10.01. KRAKacquisition has a 52-week low of $9.78 and a 52-week high of $10.44. The firm has a market capitalization of $376.12 million and a price-to-earnings ratio of 143.29.

KRAKacquisition Company Profile

KRAKacquisition Corp. is a special purpose acquisition company, or SPAC, listed on the Nasdaq under the symbol KRAQ. The company was formed to pursue a business combination, such as a merger, acquisition, stock purchase, or similar transaction, with one or more operating businesses.

Unlike an operating company, KRAKacquisition does not currently appear to offer products or services of its own. Its principal activity is identifying and completing a transaction with a target company, after which the combined business may operate as a publicly traded company.

Specific information about KRAKacquisition’s target industry, geographic focus, completed transactions, and leadership is limited in publicly available sources.