Legato Merger Corp. (NYSEAMERICAN:LEGO – Get Free Report) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 206,594 shares, a growth of 6,946.2% from the August 31st total of 2,932 shares. Based on an average trading volume of 59,360 shares, the short-interest ratio is presently 3.5 days. Approximately 0.7% of the shares of the company are sold short.
Legato Merger Stock Performance
LEGO remained flat at $10.00 during trading on Thursday. 269,017 shares of the company’s stock traded hands, compared to its average volume of 53,467. The stock has a 50 day moving average price of $9.98 and a 200 day moving average price of $9.99. Legato Merger has a fifty-two week low of $9.80 and a fifty-two week high of $10.00.
Hedge Funds Weigh In On Legato Merger
An institutional investor recently bought a new position in Legato Merger stock. Lineage Point Capital LP purchased a new stake in shares of Legato Merger Corp. (NYSEAMERICAN:LEGO – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 225,000 shares of the company’s stock, valued at approximately $2,048,000. Lineage Point Capital LP owned 0.72% of Legato Merger as of its most recent filing with the Securities & Exchange Commission.
Legato Merger Company Profile
Legato Merger Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a merger, share exchange, asset acquisition, stock purchase, recapitalization, or similar business combination with one or more operating companies. Unlike an operating company, Legato Merger does not conduct a substantial commercial business of its own and does not manufacture products or provide services to customers.
The company’s activities are primarily focused on evaluating potential merger candidates, negotiating transaction terms, and completing a qualifying business combination.
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