Black Spade Acquisition III Co (NYSE:BIII) Stock Short Interest Jumps 569.0%

Black Spade Acquisition III Co (NYSE:BIII) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 1,659 shares, an increase of 569.0% from the September 30th total of 248 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 73,063 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Black Spade Acquisition III from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, October 13th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Black Spade Acquisition III Trading Up 0.1%

Shares of NYSE BIII traded up $0.01 during midday trading on Tuesday, hitting $10.09. The company’s stock had a trading volume of 1,033 shares, compared to its average volume of 83,775. The business’s fifty day simple moving average is $10.05 and its two-hundred day simple moving average is $9.97. Black Spade Acquisition III has a 1 year low of $9.83 and a 1 year high of $10.24.

About Black Spade Acquisition III

Black Spade Acquisition III Co (NYSE:BIII) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating businesses. The company does not conduct traditional commercial operations and does not currently offer products or services of its own.

Like other blank-check companies, Black Spade Acquisition III raises capital through its public listing and holds those funds while its management team evaluates potential targets.