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

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 5,242 shares, an increase of 269.2% from the September 30th total of 1,420 shares. Based on an average daily trading volume, of 572 shares, the days-to-cover ratio is currently 9.2 days.

Institutional Investors Weigh In On GP-Act III Acquisition

A number of large investors have recently made changes to their positions in the company. Citadel Advisors LLC grew its holdings in shares of GP-Act III Acquisition by 16.7% during the 2nd quarter. Citadel Advisors LLC now owns 20,039 shares of the company’s stock valued at $218,000 after acquiring an additional 2,867 shares in the last quarter. Sona Asset Management US LLC acquired a new stake in GP-Act III Acquisition during the first quarter valued at $2,168,000. Finally, Berkley W R Corp boosted its position in GP-Act III Acquisition by 171.2% during the first quarter. Berkley W R Corp now owns 846,823 shares of the company’s stock valued at $9,180,000 after purchasing an additional 534,533 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised GP-Act III Acquisition from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, August 24th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, GP-Act III Acquisition currently has a consensus rating of “Hold”.

GP-Act III Acquisition Price Performance

Shares of GP-Act III Acquisition stock traded up $0.05 during trading hours on Friday, hitting $11.09. The company’s stock had a trading volume of 108 shares, compared to its average volume of 107,417. The business has a fifty day moving average of $11.08 and a 200 day moving average of $10.93. GP-Act III Acquisition has a 1-year low of $10.57 and a 1-year high of $12.00.

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

About GP-Act III Acquisition

GP-Act III Acquisition Corp. is a special purpose acquisition company (SPAC) listed on the Nasdaq Stock Market under the symbol GPAT. The company was formed to identify and complete a business combination with an operating company.

Rather than offering products or services of its own, GP-Act III Acquisition focuses on evaluating potential merger, acquisition, stock purchase, reorganization, or similar transactions. Its future business activities will depend on the company or business it ultimately combines with.

Publicly available information about GP-Act III Acquisition’s target industry, geographic focus, and leadership is limited.