Short Interest in Futurewave Acquisition Corp (NASDAQ:FWACU) Drops By 98.7%

Futurewave Acquisition Corp (NASDAQ:FWACU) was the recipient of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 784 shares, a decline of 98.7% from the July 30th total of 60,782 shares. Based on an average trading volume of 241 shares, the short-interest ratio is currently 3.3 days.

Institutional Investors Weigh In On Futurewave Acquisition

A hedge fund recently raised its position in Futurewave Acquisition stock. Readystate Asset Management LP increased its stake in shares of Futurewave Acquisition Corp (NASDAQ:FWACU) by 127.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,357 shares of the company’s stock after purchasing an additional 37,694 shares during the period. Readystate Asset Management LP’s holdings in Futurewave Acquisition were worth $694,000 as of its most recent SEC filing.

Futurewave Acquisition Stock Performance

NASDAQ FWACU traded down $0.20 on Wednesday, hitting $10.04. Futurewave Acquisition has a 52 week low of $10.00 and a 52 week high of $10.24. The company’s 50 day simple moving average is $10.09.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Futurewave Acquisition to a “hold” rating in a research note on Saturday, July 4th.

About Futurewave Acquisition

Futurewave Acquisition Corp. is a special purpose acquisition company (SPAC) formed to pursue a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. Companies like Futurewave Acquisition are typically created to help identify and combine with an operating business, rather than to run a traditional commercial operation themselves.

As a blank check company, Futurewave Acquisition does not provide a broad portfolio of products or services in the conventional sense.