EGH Acquisition Corp. (NASDAQ:EGHA) Short Interest Update

EGH Acquisition Corp. (NASDAQ:EGHA) was the recipient of a significant drop in short interest in June. As of June 30th, there was short interest totaling 297 shares, a drop of 89.3% from the June 15th total of 2,772 shares. Based on an average daily volume of 72,426 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the shares of the stock are sold short.

EGH Acquisition Price Performance

NASDAQ EGHA traded down $0.01 during trading hours on Friday, hitting $10.34. 15,981 shares of the company were exchanged, compared to its average volume of 71,100. EGH Acquisition has a 52 week low of $9.31 and a 52 week high of $10.80. The stock has a 50-day moving average price of $10.31.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EGH Acquisition in a research note on Thursday, June 18th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has a consensus rating of “Sell”.

Hedge Funds Weigh In On EGH Acquisition

Large investors have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new position in EGH Acquisition in the 4th quarter worth about $304,000. DLD Asset Management LP purchased a new stake in EGH Acquisition in the 1st quarter valued at about $347,000. Lineage Point Capital LP bought a new position in EGH Acquisition in the 4th quarter worth about $465,000. Toronto Dominion Bank grew its stake in EGH Acquisition by 252.2% in the 4th quarter. Toronto Dominion Bank now owns 177,958 shares of the company’s stock worth $1,803,000 after acquiring an additional 127,436 shares in the last quarter. Finally, TIG Advisors LLC purchased a new position in shares of EGH Acquisition during the fourth quarter worth approximately $2,052,000.

EGH Acquisition Company Profile

EGH Acquisition (NASDAQ: EGHA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses. As a blank‑check vehicle, the company’s primary business activity is to raise capital through an initial public offering and to seek qualifying target companies for a business combination that would result in the target becoming a publicly listed entity.

Like other SPACs, EGH Acquisition typically holds the proceeds of its offering in trust while it evaluates potential targets and transaction structures.