OceanLight Acquisition Corporation (NASDAQ:OCLT – Get Free Report) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 1,956 shares, an increase of 2,579.5% from the September 30th total of 73 shares. Based on an average daily volume of 3,563 shares, the days-to-cover ratio is presently 0.5 days.
OceanLight Acquisition Price Performance
OCLT remained flat at $9.90 on Monday. 1,135 shares of the company were exchanged, compared to its average volume of 46,257. OceanLight Acquisition has a 12-month low of $9.86 and a 12-month high of $9.95.
OceanLight Acquisition Company Profile
OceanLight Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Rather than selling products or services of its own, the company raises capital through the public markets and holds those funds while it searches for a suitable merger, acquisition, or similar transaction.
As a blank-check company, OceanLight Acquisition’s activities are primarily focused on evaluating potential target businesses, negotiating transaction terms, and obtaining approval from shareholders and other required parties.
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