EGH Acquisition Corp. (NASDAQ:EGHA) Short Interest Up 1,375.9% in May

EGH Acquisition Corp. (NASDAQ:EGHA) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 14,966 shares, a growth of 1,375.9% from the April 30th total of 1,014 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 48,248 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On EGH Acquisition

Institutional investors and hedge funds have recently modified their holdings of the business. ABC Arbitrage SA bought a new stake in EGH Acquisition in the 4th quarter valued at approximately $304,000. DLD Asset Management LP bought a new stake in EGH Acquisition in the 1st quarter valued at approximately $347,000. Lineage Point Capital LP bought a new stake in EGH Acquisition in the 4th quarter valued at approximately $465,000. Toronto Dominion Bank lifted its stake in EGH Acquisition by 252.2% in the 4th quarter. Toronto Dominion Bank now owns 177,958 shares of the company’s stock valued at $1,803,000 after acquiring an additional 127,436 shares in the last quarter. Finally, TIG Advisors LLC bought a new stake in EGH Acquisition in the 4th quarter valued at approximately $2,052,000.

EGH Acquisition Stock Performance

Shares of EGHA traded down $0.01 on Wednesday, hitting $10.34. The company’s stock had a trading volume of 15,267 shares, compared to its average volume of 34,994. The business has a fifty day moving average of $10.26. EGH Acquisition has a fifty-two week low of $9.31 and a fifty-two week high of $10.80.

Analyst Ratings Changes

Separately, Weiss Ratings assumed coverage on EGH Acquisition in a research report on Tuesday, January 27th. They set a “sell (e+)” rating for the company. One analyst has rated the stock with a Sell rating, According to MarketBeat, EGH Acquisition presently has a consensus rating of “Sell”.

About EGH Acquisition

EGH Acquisition (NASDAQ: EGHA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses. As a blank?check vehicle, the company’s primary business activity is to raise capital through an initial public offering and to seek qualifying target companies for a business combination that would result in the target becoming a publicly listed entity.

Like other SPACs, EGH Acquisition typically holds the proceeds of its offering in trust while it evaluates potential targets and transaction structures.