GP-Act III Acquisition (NASDAQ:GPAT) Releases Earnings Results

GP-Act III Acquisition (NASDAQ:GPAT) posted its earnings results on Thursday. The company reported $0.06 EPS for the quarter, FiscalAI reports.

GP-Act III Acquisition Trading Down 0.2%

GP-Act III Acquisition stock traded down $0.02 during midday trading on Friday, hitting $10.82. 430 shares of the company’s stock were exchanged, compared to its average volume of 151,044. GP-Act III Acquisition has a 12-month low of $10.42 and a 12-month high of $11.00. The firm’s 50 day simple moving average is $10.84 and its 200 day simple moving average is $10.75.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GP-Act III Acquisition in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Sona Asset Management US LLC purchased a new position in GP-Act III Acquisition during the 1st quarter worth $2,168,000. Berkley W R Corp grew its position in GP-Act III Acquisition by 171.2% during the 1st quarter. Berkley W R Corp now owns 846,823 shares of the company’s stock worth $9,180,000 after purchasing an additional 534,533 shares during the last quarter. Cannon Global Investment Management LLC lifted its stake in shares of GP-Act III Acquisition by 15.2% in the 1st quarter. Cannon Global Investment Management LLC now owns 16,700 shares of the company’s stock worth $181,000 after acquiring an additional 2,200 shares during the period. Lineage Point Capital LP purchased a new stake in shares of GP-Act III Acquisition in the fourth quarter valued at about $695,000. Finally, Meteora Capital LLC increased its stake in shares of GP-Act III Acquisition by 62.8% during the fourth quarter. Meteora Capital LLC now owns 408,719 shares of the company’s stock worth $4,369,000 after acquiring an additional 157,689 shares during the period.

GP-Act III Acquisition Company Profile

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.