LightWave Acquisition (NASDAQ:LWAC) Shares Down 0.5% – Time to Sell?

LightWave Acquisition Corp. (NASDAQ:LWAC)’s share price traded down 0.5% during trading on Monday . The company traded as low as $10.29 and last traded at $10.30. Approximately 5,136 shares traded hands during trading, a decline of 54% from the average daily volume of 11,148 shares. The stock had previously closed at $10.35.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of LightWave Acquisition in a research note on Wednesday, July 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

LightWave Acquisition Stock Down 0.3%

The stock has a fifty day moving average of $10.25 and a 200-day moving average of $10.19.

Institutional Trading of LightWave Acquisition

Hedge funds have recently added to or reduced their stakes in the company. AQR Arbitrage LLC acquired a new stake in shares of LightWave Acquisition in the 3rd quarter valued at $13,958,000. Magnetar Financial LLC acquired a new stake in LightWave Acquisition in the fourth quarter valued at $10,279,000. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in LightWave Acquisition during the 3rd quarter worth about $9,950,000. Westchester Capital Management LLC purchased a new stake in LightWave Acquisition during the 4th quarter worth about $8,240,000. Finally, Alberta Investment Management Corp acquired a new position in shares of LightWave Acquisition during the 4th quarter worth about $7,538,000.

About LightWave Acquisition

Locust Walk Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Boston, Massachusetts.