Periscope Capital Inc. Decreases Position in Texas Ventures Acquisition III Corp $TVA

Periscope Capital Inc. cut its stake in shares of Texas Ventures Acquisition III Corp (NASDAQ:TVA) by 30.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 279,505 shares of the company’s stock after selling 120,495 shares during the period. Periscope Capital Inc. owned 1.05% of Texas Ventures Acquisition III worth $2,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Texas Ventures Acquisition III Stock Performance

Shares of NASDAQ TVA opened at $10.50 on Friday. The business has a 50 day simple moving average of $10.44. Texas Ventures Acquisition III Corp has a fifty-two week low of $9.98 and a fifty-two week high of $12.27.

Texas Ventures Acquisition III (NASDAQ:TVA) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $0.17 earnings per share for the quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TVA. Wall Street Zen downgraded Texas Ventures Acquisition III from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Texas Ventures Acquisition III in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Texas Ventures Acquisition III has a consensus rating of “Sell”.

About Texas Ventures Acquisition III

Texas Ventures Acquisition III (NASDAQ: TVA) is a special purpose acquisition company (SPAC) listed on the NASDAQ exchange. As a blank?check company, its principal business purpose is to raise capital in the public markets and use those proceeds to identify, negotiate and consummate one or more business combinations with an operating company.

Unlike an operating company, Texas Ventures Acquisition III does not produce goods or services while it searches for a target. Its activities typically include managing the capital held in trust, conducting diligence on prospective acquisition candidates, negotiating transaction terms, and seeking shareholder and regulatory approvals required to complete a business combination.

Pending completion of a business combination, the company’s prospects and ultimate strategy are driven by its management and sponsors; specific target industries, geographies and leadership details are disclosed through the company’s public filings and press releases as opportunities develop.