Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) Short Interest Down 73.8% in August

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 3,030 shares, a decline of 73.8% from the August 15th total of 11,566 shares. Based on an average daily volume of 15,289 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Crown Reserve Acquisition Corp. I

Several hedge funds have recently bought and sold shares of CRAC. Polar Asset Management Partners Inc. acquired a new position in Crown Reserve Acquisition Corp. I during the fourth quarter worth $14,811,000. Magnetar Financial LLC acquired a new stake in Crown Reserve Acquisition Corp. I in the fourth quarter valued at $14,761,000. Lineage Point Capital LP purchased a new position in shares of Crown Reserve Acquisition Corp. I in the fourth quarter valued at $7,614,000. Westchester Capital Management LLC purchased a new position in shares of Crown Reserve Acquisition Corp. I in the fourth quarter valued at $6,063,000. Finally, Crossingbridge Advisors LLC acquired a new position in shares of Crown Reserve Acquisition Corp. I during the 4th quarter worth $5,973,000.

Crown Reserve Acquisition Corp. I Price Performance

Shares of NASDAQ CRAC remained flat at $10.20 during midday trading on Monday. 3,244 shares of the company traded hands, compared to its average volume of 65,950. Crown Reserve Acquisition Corp. I has a 12-month low of $9.89 and a 12-month high of $10.21. The firm has a fifty day simple moving average of $10.17 and a 200-day simple moving average of $10.10.

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) last issued its earnings results on Wednesday, August 12th. The company reported $0.06 earnings per share for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Crown Reserve Acquisition Corp. I from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Crown Reserve Acquisition Corp. I presently has a consensus rating of “Sell”.

Crown Reserve Acquisition Corp. I Company Profile

Crown Reserve Acquisition Corp. I (NASDAQ: CRAC) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank?check vehicle, the company was formed to raise capital through a public offering with the primary aim of identifying, negotiating and completing a business combination with one or more operating businesses. Prior to consummation of a qualifying transaction, Crown Reserve Acquisition Corp. I does not engage in substantive commercial operations beyond the activities necessary to carry out its formation and capital?raising objectives.

The company’s principal activities include managing proceeds raised in its initial public offering, maintaining those funds in trust accounts, conducting due diligence on prospective targets and pursuing mergers, acquisitions or other strategic combinations that would enable the combined entity to become an operating public company.