Lafayette Acquisition Corp. (NASDAQ:LAFA) Stock Short Interest Declines 54.3%

Lafayette Acquisition Corp. (NASDAQ:LAFA) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 75 shares, a decrease of 54.3% from the August 31st total of 164 shares. Based on an average trading volume of 5,119 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Aristeia Capital L.L.C. purchased a new stake in Lafayette Acquisition in the 4th quarter worth about $3,960,000. Sona Asset Management US LLC purchased a new stake in Lafayette Acquisition during the first quarter valued at about $3,490,000. Lineage Point Capital LP bought a new position in Lafayette Acquisition during the fourth quarter worth about $3,076,000. Rivernorth Capital Management LLC bought a new position in Lafayette Acquisition during the first quarter worth about $2,991,000. Finally, 683 Capital Management LLC purchased a new position in shares of Lafayette Acquisition in the fourth quarter worth about $2,475,000.

Lafayette Acquisition Trading Down 0.0%

Shares of LAFA stock traded down $0.00 during trading hours on Tuesday, hitting $10.20. 136,027 shares of the company were exchanged, compared to its average volume of 26,137. The firm has a fifty day simple moving average of $10.15 and a 200 day simple moving average of $10.08. Lafayette Acquisition has a 52-week low of $9.87 and a 52-week high of $10.20.

Lafayette Acquisition (NASDAQ:LAFA) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.06 EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Lafayette Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Lafayette Acquisition Company Profile

Lafayette Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transactions may include a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar combination.

As a SPAC, Lafayette Acquisition Corp. does not have significant operating products or services of its own. Instead, its activities center on evaluating prospective target businesses, conducting due diligence and seeking shareholder approval for a transaction.