PropTech Acquisition Co. (NASDAQ:PTAC) Shares Shorted: Short Interest Down 37.5% in September

PropTech Acquisition Co. (NASDAQ:PTAC) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 20 shares, a drop of 37.5% from the September 15th total of 32 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 5,609 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings initiated coverage on shares of PropTech Acquisition in a report on Monday, September 28th. They set a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of “Sell”.

PropTech Acquisition Price Performance

Shares of PTAC stock traded down $0.01 on Friday, reaching $9.98. 3,004 shares of the company’s stock were exchanged, compared to its average volume of 51,519. The company’s fifty day simple moving average is $8.99 and its 200 day simple moving average is $7.82. PropTech Acquisition has a 52 week low of $9.74 and a 52 week high of $10.10.

PropTech Acquisition Company Profile

PropTech Acquisition Corporation was a special purpose acquisition company (SPAC) formed to identify and combine with a business operating in the real estate technology sector. Unlike an operating company, it did not offer a broad portfolio of products or services to customers; its principal activity was raising capital through an initial public offering and pursuing a business combination.

The company focused on companies developing technology for the real estate industry, including software, data tools and digital services intended to improve property transactions, management and related services.