Lake Superior Acquisition Corp (NASDAQ:LKSPU) Sees Large Increase in Short Interest

Lake Superior Acquisition Corp (NASDAQ:LKSPU) was the target of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 184 shares, an increase of 61.4% from the September 15th total of 114 shares. Based on an average trading volume of 736 shares, the short-interest ratio is presently 0.2 days.

Lake Superior Acquisition Price Performance

Shares of LKSPU traded up $0.58 during midday trading on Friday, hitting $11.02. The company had a trading volume of 1,114 shares, compared to its average volume of 3,400. Lake Superior Acquisition has a 52 week low of $10.02 and a 52 week high of $12.38. The company’s 50 day moving average price is $10.50 and its 200 day moving average price is $10.36.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Lake Superior Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Lake Superior Acquisition currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Lake Superior Acquisition

An institutional investor recently bought a new stake in Lake Superior Acquisition stock. Lineage Point Capital LP acquired a new position in shares of Lake Superior Acquisition Corp (NASDAQ:LKSPU) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $102,000.

Lake Superior Acquisition Company Profile

Lake Superior Acquisition Corporation is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transactions may include a merger, stock purchase, asset acquisition, reorganization, or similar combination.

Unlike an operating company, Lake Superior Acquisition Corporation does not have an established portfolio of products or services. Its activities are focused on evaluating acquisition opportunities, conducting due diligence, and seeking shareholder approval for a proposed transaction.

The company’s publicly traded units trade under the symbol LKSPU on the Nasdaq Stock Market.