Lafayette Acquisition Corp. (NASDAQ:LAFA) Sees Significant Decline in Short Interest

Lafayette Acquisition Corp. (NASDAQ:LAFA) was the target of a significant decrease in short interest in September. As of September 15th, there was short interest totaling 75 shares, a decrease of 54.3% from the August 31st total of 164 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,119 shares, the days-to-cover ratio is currently 0.0 days.

Lafayette Acquisition Trading Down 0.1%

LAFA traded down $0.01 during trading on Wednesday, hitting $10.19. 6,052 shares of the stock traded hands, compared to its average volume of 34,555. Lafayette Acquisition has a 12-month low of $9.87 and a 12-month high of $10.20. The firm has a 50-day moving average of $10.15 and a 200 day moving average of $10.08.

Lafayette Acquisition (NASDAQ:LAFA) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rivernorth Capital Management LLC bought a new stake in shares of Lafayette Acquisition in the 1st quarter worth approximately $2,991,000. Sona Asset Management US LLC purchased a new stake in Lafayette Acquisition in the first quarter worth $3,490,000. Lineage Point Capital LP bought a new stake in Lafayette Acquisition in the fourth quarter valued at $3,076,000. Aristeia Capital L.L.C. bought a new stake in Lafayette Acquisition in the fourth quarter valued at $3,960,000. Finally, 683 Capital Management LLC purchased a new position in Lafayette Acquisition during the 4th quarter valued at $2,475,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Lafayette Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

About Lafayette Acquisition

Lafayette Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transactions may include a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar combination.

As a SPAC, Lafayette Acquisition Corp. does not have significant operating products or services of its own. Instead, its activities center on evaluating prospective target businesses, conducting due diligence and seeking shareholder approval for a transaction.