Lake Superior Acquisition (NASDAQ:LKSP) Releases Earnings Results

Lake Superior Acquisition (NASDAQ:LKSP) issued its quarterly earnings data on Thursday. The company reported $0.05 earnings per share for the quarter, FiscalAI reports.

Lake Superior Acquisition Price Performance

NASDAQ:LKSP traded down $0.01 during midday trading on Friday, hitting $10.18. 50,059 shares of the stock were exchanged, compared to its average volume of 12,465. Lake Superior Acquisition has a one year low of $9.89 and a one year high of $10.20. The company’s 50-day moving average price is $10.16.

Analysts Set New Price Targets

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. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Lake Superior Acquisition

Several hedge funds have recently modified their holdings of the company. Rivernorth Capital Management LLC acquired a new stake in shares of Lake Superior Acquisition in the first quarter valued at $3,015,000. Aristeia Capital L.L.C. bought a new position in Lake Superior Acquisition during the fourth quarter valued at about $4,166,000. Radcliffe Capital Management L.P. acquired a new position in Lake Superior Acquisition during the fourth quarter worth about $2,083,000. Lineage Point Capital LP acquired a new position in Lake Superior Acquisition during the fourth quarter worth about $1,984,000. Finally, Sona Asset Management US LLC acquired a new position in Lake Superior Acquisition during the first quarter worth about $892,000.

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.