GP-Act III Acquisition (NASDAQ:GPAT) Announces Quarterly Earnings Results

GP-Act III Acquisition (NASDAQ:GPAT) announced its quarterly earnings data on Friday. The company reported $0.01 earnings per share (EPS) for the quarter, FiscalAI reports.

GP-Act III Acquisition Trading Down 1.1%

Shares of NASDAQ GPAT traded down $0.12 during mid-day trading on Friday, reaching $11.04. The company had a trading volume of 734 shares, compared to its average volume of 128,407. GP-Act III Acquisition has a twelve month low of $10.50 and a twelve month high of $12.00. The stock’s 50 day moving average is $11.01 and its 200-day moving average is $10.88.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank of America Corp DE purchased a new stake in shares of GP-Act III Acquisition during the 3rd quarter worth about $85,000. Cannon Global Investment Management LLC raised 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 valued at $155,000 after acquiring an additional 4,000 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in GP-Act III Acquisition during the third quarter valued at approximately $203,000. Lineage Point Capital LP acquired a new stake in GP-Act III Acquisition in the fourth quarter valued at approximately $695,000. Finally, Shaolin Capital Management LLC bought a new stake in GP-Act III Acquisition in the second quarter worth approximately $1,055,000.

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.