GP-Act III Acquisition Corp. (NASDAQ:GPAT) Short Interest Up 458.5% in June

GP-Act III Acquisition Corp. (NASDAQ:GPAT) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 3,999 shares, a growth of 458.5% from the May 31st total of 716 shares. Based on an average trading volume of 4,423 shares, the days-to-cover ratio is currently 0.9 days.

GP-Act III Acquisition Stock Performance

GP-Act III Acquisition stock traded up $0.09 during mid-day trading on Friday, hitting $10.96. The company had a trading volume of 300 shares, compared to its average volume of 143,476. GP-Act III Acquisition has a 1 year low of $10.50 and a 1 year high of $12.00. The business has a fifty day moving average of $10.88 and a 200 day moving average of $10.80.

GP-Act III Acquisition (NASDAQ:GPAT) last issued its quarterly earnings data on Thursday, May 14th. The company reported $0.06 earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

Hedge Funds Weigh In On GP-Act III Acquisition

Large investors have recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC acquired a new stake in shares of GP-Act III Acquisition during the third quarter worth about $83,000. Bank of America Corp DE purchased a new position in GP-Act III Acquisition during the 3rd quarter worth approximately $85,000. Clear Street Group Inc. purchased a new position in GP-Act III Acquisition during the 3rd quarter worth approximately $109,000. Cannon Global Investment Management LLC increased its position in GP-Act III Acquisition by 38.1% during the fourth quarter. Cannon Global Investment Management LLC now owns 14,500 shares of the company’s stock worth $155,000 after buying an additional 4,000 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new position in GP-Act III Acquisition during the third quarter worth approximately $203,000.

GP-Act III Acquisition Company Profile

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.