Starboard Value Acquisition (NASDAQ:SVAC) Sees Large Volume Increase – Should You Buy?

Starboard Value Acquisition Corp. (NASDAQ:SVAC) saw unusually-high trading volume on Monday . 1,274,737 shares changed hands during trading, an increase of 312% from the previous session’s volume of 309,030 shares.The stock last traded at $10.26 and had previously closed at $10.26.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Starboard Value Acquisition Stock Up 0.1%

The company’s 50 day simple moving average is $10.43 and its two-hundred day simple moving average is $10.38.

Starboard Value Acquisition (NASDAQ:SVAC) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($13.80) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Clear Street Group Inc. purchased a new stake in Starboard Value Acquisition in the fourth quarter valued at about $73,000. Virtu Financial LLC purchased a new stake in shares of Starboard Value Acquisition during the fourth quarter worth about $186,000. Cannon Global Investment Management LLC purchased a new stake in shares of Starboard Value Acquisition during the first quarter worth about $279,000. Readystate Asset Management LP acquired a new position in shares of Starboard Value Acquisition during the first quarter valued at about $311,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Starboard Value Acquisition during the fourth quarter valued at about $445,000.

Starboard Value Acquisition Company Profile

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.