Lake Superior Acquisition Corp (NASDAQ:LKSP) Sees Large Increase in Short Interest

Lake Superior Acquisition Corp (NASDAQ:LKSP) saw a significant increase in short interest in August. As of August 14th, there was short interest totaling 5,868 shares, an increase of 49.2% from the July 30th total of 3,933 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 20,770 shares, the short-interest ratio is currently 0.3 days.

Lake Superior Acquisition Stock Down 0.3%

NASDAQ LKSP opened at $10.17 on Thursday. Lake Superior Acquisition has a 52-week low of $9.89 and a 52-week high of $10.22. The company has a fifty day moving average of $10.17 and a 200-day moving average of $10.11.

Lake Superior Acquisition (NASDAQ:LKSP) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.05 earnings per share for the quarter.

Hedge Funds Weigh In On Lake Superior Acquisition

Institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC purchased a new position in shares of Lake Superior Acquisition in the fourth quarter worth about $359,000. TrueMark Investments LLC bought a new position in shares of Lake Superior Acquisition during the first quarter valued at approximately $363,000. Sona Asset Management US LLC purchased a new stake in Lake Superior Acquisition in the first quarter worth $892,000. Moore Capital Management LP bought a new stake in Lake Superior Acquisition in the fourth quarter valued at $1,042,000. Finally, Context Capital Management LLC bought a new stake in Lake Superior Acquisition in the fourth quarter valued at $1,736,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Lake Superior Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Lake Superior Acquisition Company Profile

Lake Superior Acquisition Corp. (NASDAQ: LKSP) is a special purpose acquisition company (SPAC) formed to identify, acquire or merge with one or more businesses. As a blank?check vehicle, its principal purpose is to raise capital in the public markets and use those proceeds, typically held in trust, to complete a business combination that delivers an operating company to public investors.

The company’s primary activities center on sourcing, negotiating and consummating an initial business combination.