MMCAP International Inc. SPC Buys Shares of 250,000 LightWave Acquisition Corp. $LWAC

MMCAP International Inc. SPC bought a new stake in LightWave Acquisition Corp. (NASDAQ:LWAC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 250,000 shares of the company’s stock, valued at approximately $2,508,000. MMCAP International Inc. SPC owned 0.83% of LightWave Acquisition at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. ABC Arbitrage SA bought a new stake in shares of LightWave Acquisition in the fourth quarter valued at about $351,000. Wolverine Asset Management LLC raised its stake in LightWave Acquisition by 40.3% in the fourth quarter. Wolverine Asset Management LLC now owns 140,302 shares of the company’s stock valued at $1,410,000 after buying an additional 40,272 shares during the period. Hudson Bay Capital Management LP bought a new stake in LightWave Acquisition in the third quarter valued at approximately $2,483,000. Whitebox Advisors LLC bought a new stake in LightWave Acquisition in the third quarter valued at approximately $1,244,000. Finally, Verition Fund Management LLC bought a new stake in LightWave Acquisition in the third quarter valued at approximately $7,390,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised LightWave Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

LightWave Acquisition Stock Down 0.1%

Shares of LWAC stock opened at $10.19 on Wednesday. The stock’s fifty day moving average price is $10.18 and its two-hundred day moving average price is $10.11. LightWave Acquisition Corp. has a fifty-two week low of $9.81 and a fifty-two week high of $10.21.

LightWave Acquisition (NASDAQ:LWAC) last issued its earnings results on Friday, May 15th. The company reported $0.06 earnings per share for the quarter.

LightWave Acquisition Profile

Locust Walk Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Boston, Massachusetts.