Emmis Acquisition Corp. (NASDAQ:EMIS) Sees Significant Decrease in Short Interest

Emmis Acquisition Corp. (NASDAQ:EMIS) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 4,887 shares, a drop of 44.0% from the July 15th total of 8,734 shares. Based on an average daily volume of 3,204 shares, the short-interest ratio is currently 1.5 days.

Institutional Trading of Emmis Acquisition

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in Emmis Acquisition in the 4th quarter valued at about $178,000. Polar Asset Management Partners Inc. bought a new stake in shares of Emmis Acquisition during the fourth quarter worth approximately $249,000. ABC Arbitrage SA bought a new stake in shares of Emmis Acquisition during the fourth quarter worth approximately $398,000. Boothbay Fund Management LLC acquired a new position in shares of Emmis Acquisition in the fourth quarter valued at approximately $418,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Emmis Acquisition in the fourth quarter valued at approximately $597,000.

Emmis Acquisition Trading Up 0.2%

Emmis Acquisition stock traded up $0.03 during mid-day trading on Tuesday, hitting $10.23. 106 shares of the company’s stock traded hands. The firm has a 50 day simple moving average of $10.18 and a two-hundred day simple moving average of $10.11. Emmis Acquisition has a fifty-two week low of $9.90 and a fifty-two week high of $10.22.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Emmis Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Emmis Acquisition Company Profile

We are a blank check company incorporated as a Cayman Islands exempted company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.