Columbus Acquisition Corp/Cayman Islands (NASDAQ:COLA) Sees Significant Growth in Short Interest

Columbus Acquisition Corp/Cayman Islands (NASDAQ:COLA) saw a significant increase in short interest in September. As of September 15th, there was short interest totaling 13,496 shares, an increase of 175.8% from the August 31st total of 4,894 shares. Based on an average daily volume of 52,715 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in COLA. Citadel Advisors LLC bought a new position in Columbus Acquisition Corp/Cayman Islands during the second quarter worth $144,000. Clear Street Group Inc. raised its holdings in shares of Columbus Acquisition Corp/Cayman Islands by 1,173.3% during the fourth quarter. Clear Street Group Inc. now owns 77,967 shares of the company’s stock worth $810,000 after purchasing an additional 71,844 shares during the period. Finally, L1 Global Manager Pty Ltd bought a new stake in shares of Columbus Acquisition Corp/Cayman Islands during the 4th quarter valued at about $1,039,000.

Analysts Set New Price Targets

COLA has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Columbus Acquisition Corp/Cayman Islands in a research report on Friday. Wall Street Zen cut Columbus Acquisition Corp/Cayman Islands from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Columbus Acquisition Corp/Cayman Islands presently has a consensus rating of “Sell”.

Columbus Acquisition Corp/Cayman Islands Price Performance

Shares of COLA traded up $1.79 during mid-day trading on Monday, hitting $12.24. 4,372 shares of the company’s stock were exchanged, compared to its average volume of 34,281. The business’s 50 day moving average is $10.62 and its two-hundred day moving average is $10.63. Columbus Acquisition Corp/Cayman Islands has a fifty-two week low of $8.02 and a fifty-two week high of $12.84.

Columbus Acquisition Corp/Cayman Islands (NASDAQ:COLA) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.02 earnings per share for the quarter.

Columbus Acquisition Corp/Cayman Islands Company Profile

Columbus Acquisition Corp. is a Cayman Islands–incorporated special purpose acquisition company, or SPAC. The company was formed to identify and combine with one or more businesses through a merger, share exchange, asset acquisition, share purchase, recapitalization, or similar transaction.

Unlike an operating company, Columbus Acquisition Corp. does not primarily develop, manufacture, or sell products and services. Its activities are focused on evaluating potential acquisition targets and completing an initial business combination.