GP-Act III Acquisition Corp. (NASDAQ:GPAT) Short Interest Update

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 2,049 shares, a decrease of 41.1% from the July 15th total of 3,478 shares. Based on an average daily volume of 37,374 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On GP-Act III Acquisition

Several hedge funds and other institutional investors have recently bought and sold shares of GPAT. Bank of America Corp DE bought a new position in shares of GP-Act III Acquisition during the 3rd quarter worth about $85,000. Cannon Global Investment Management LLC raised its stake in GP-Act III Acquisition by 38.1% during the 4th quarter. Cannon Global Investment Management LLC now owns 14,500 shares of the company’s stock worth $155,000 after buying an additional 4,000 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of GP-Act III Acquisition in the 3rd quarter worth $203,000. Lineage Point Capital LP bought a new position in shares of GP-Act III Acquisition in the fourth quarter valued at $695,000. Finally, Shaolin Capital Management LLC bought a new position in GP-Act III Acquisition in the 2nd quarter valued at about $1,055,000.

GP-Act III Acquisition Stock Down 1.1%

NASDAQ GPAT opened at $11.04 on Monday. The business has a 50 day simple moving average of $11.01 and a 200 day simple moving average of $10.89. GP-Act III Acquisition has a one year low of $10.50 and a one year high of $12.00.

GP-Act III Acquisition (NASDAQ:GPAT) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.01 earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

About GP-Act III Acquisition

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.