Legato Merger Corp. (NYSEAMERICAN:LEGO) Stock Short Interest Rises 6,946.2%

Legato Merger Corp. (NYSEAMERICAN:LEGO) saw a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 206,594 shares, a growth of 6,946.2% from the August 31st total of 2,932 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average trading volume of 59,360 shares, the short-interest ratio is presently 3.5 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Legato Merger stock. Lineage Point Capital LP acquired a new stake in shares of Legato Merger Corp. (NYSEAMERICAN:LEGO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 225,000 shares of the company’s stock, valued at approximately $2,048,000. Lineage Point Capital LP owned 0.72% of Legato Merger as of its most recent filing with the Securities & Exchange Commission.

Legato Merger Stock Performance

LEGO stock opened at $10.00 on Friday. Legato Merger has a 1-year low of $9.80 and a 1-year high of $10.00. The business’s 50 day moving average is $9.98 and its 200-day moving average is $9.99.

Legato Merger Company Profile

Legato Merger Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a merger, share exchange, asset acquisition, stock purchase, recapitalization, or similar business combination with one or more operating companies. Unlike an operating company, Legato Merger does not conduct a substantial commercial business of its own and does not manufacture products or provide services to customers.

The company’s activities are primarily focused on evaluating potential merger candidates, negotiating transaction terms, and completing a qualifying business combination.