Short Interest in Starboard Value Acquisition Corp. (NASDAQ:SVAC) Decreases By 57.5%

Starboard Value Acquisition Corp. (NASDAQ:SVAC) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 27,197 shares, a decrease of 57.5% from the May 31st total of 63,986 shares. Based on an average trading volume of 112,154 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

Starboard Value Acquisition Price Performance

NASDAQ:SVAC traded up $0.01 during midday trading on Monday, hitting $10.27. The company’s stock had a trading volume of 21,443 shares, compared to its average volume of 309,027. Starboard Value Acquisition has a fifty-two week low of $10.03 and a fifty-two week high of $12.00. The firm’s 50 day moving average is $10.44 and its 200-day moving average is $10.38.

Starboard Value Acquisition (NASDAQ:SVAC) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($13.80) EPS for the quarter.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clear Street Group Inc. purchased a new stake in Starboard Value Acquisition in the fourth quarter valued at $73,000. Virtu Financial LLC purchased a new position in shares of Starboard Value Acquisition during the 4th quarter valued at about $186,000. Cannon Global Investment Management LLC acquired a new position in shares of Starboard Value Acquisition in the 1st quarter valued at about $279,000. Readystate Asset Management LP acquired a new position in shares of Starboard Value Acquisition in the 1st quarter valued at about $311,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Starboard Value Acquisition in the fourth quarter worth about $445,000.

Starboard Value Acquisition Company Profile

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.