ITHAX Acquisition Corp III (NASDAQ:ITHA) Shares Climb 0.1% – Time to Buy?

ITHAX Acquisition Corp III (NASDAQ:ITHA) shares shot up 0.1% during trading on Friday. The stock traded as high as $10.09 and last traded at $10.1040. 154,956 shares traded hands during mid-day trading, an increase of 80% from the average daily volume of 86,280 shares. The stock had previously closed at $10.09.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded ITHAX Acquisition Corp III from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

ITHAX Acquisition Corp III Stock Up 0.1%

The company has a 50-day simple moving average of $10.08 and a two-hundred day simple moving average of $9.99.

Hedge Funds Weigh In On ITHAX Acquisition Corp III

An institutional investor recently bought a new position in ITHAX Acquisition Corp III stock. First Trust Capital Management L.P. acquired a new position in ITHAX Acquisition Corp III (NASDAQ:ITHA) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 464,920 shares of the company’s stock, valued at approximately $4,686,000. First Trust Capital Management L.P. owned 1.74% of ITHAX Acquisition Corp III as of its most recent SEC filing.

ITHAX Acquisition Corp III Company Profile

ITHAX Acquisition Corp. III (NASDAQ: ITHA) is a special purpose acquisition company, or SPAC. The company was formed to identify and complete a business combination, such as a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar transaction, with one or more businesses.

As a SPAC, ITHAX Acquisition Corp. III does not have significant ongoing commercial operations, products or services of its own. Its activities primarily involve raising capital through a public offering, evaluating potential acquisition targets and seeking shareholder approval for a proposed transaction.

The company has not publicly identified a completed operating business or definitive target in the information available.