Short Interest in Lakeshore Acquisition III Corp. (NASDAQ:LCCC) Decreases By 75.9%

Lakeshore Acquisition III Corp. (NASDAQ:LCCC) was the target of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 287 shares, a drop of 75.9% from the June 30th total of 1,192 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 25,853 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of Lakeshore Acquisition III

Several hedge funds have recently made changes to their positions in LCCC. Sona Asset Management US LLC acquired a new position in shares of Lakeshore Acquisition III in the first quarter valued at approximately $1,030,000. Berkley W R Corp increased its stake in Lakeshore Acquisition III by 51.3% during the 1st quarter. Berkley W R Corp now owns 310,796 shares of the company’s stock worth $3,203,000 after buying an additional 105,422 shares during the period. Finally, Rivernorth Capital Management LLC increased its stake in Lakeshore Acquisition III by 33.6% during the 4th quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock worth $4,051,000 after buying an additional 100,000 shares during the period.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lakeshore Acquisition III in a report on Friday, May 29th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Lakeshore Acquisition III Trading Down 0.5%

Shares of LCCC stock traded down $0.06 on Monday, hitting $10.40. The stock had a trading volume of 208 shares, compared to its average volume of 23,484. Lakeshore Acquisition III has a 1 year low of $10.04 and a 1 year high of $10.46. The firm has a 50 day moving average of $10.42.

Lakeshore Acquisition III (NASDAQ:LCCC) last posted its earnings results on Thursday, April 23rd. The company reported $0.08 earnings per share (EPS) for the quarter.

About Lakeshore Acquisition III

Lakeshore Acquisition III (NASDAQ: LCCC) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock exchange. As a blank?check company, its primary business activity is to raise capital through an initial public offering and hold those proceeds in a trust while seeking a business combination, merger, asset acquisition or similar transaction that would bring a private operating company public through a reverse merger or other form of combination.

Prior to identifying and completing a qualifying business combination, Lakeshore Acquisition III does not operate traditional commercial businesses or offer products or services; instead, its operations are focused on target evaluation, due diligence, structuring potential transactions and managing the trust account and public?company obligations.