Lafayette Acquisition (NASDAQ:LAFA) Shares Down 0.3% – Here’s What Happened

Lafayette Acquisition Corp. (NASDAQ:LAFA)’s share price traded down 0.3% during trading on Thursday . The company traded as low as $10.06 and last traded at $10.06. 1,006 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 8,701 shares. The stock had previously closed at $10.09.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Lafayette Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Lafayette Acquisition Trading Up 0.5%

The business has a 50-day simple moving average of $10.01.

Lafayette Acquisition (NASDAQ:LAFA) last posted its quarterly earnings data on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC acquired a new stake in shares of Lafayette Acquisition in the 1st quarter worth $2,991,000. Sona Asset Management US LLC acquired a new stake in shares of Lafayette Acquisition during the 1st quarter worth about $3,490,000. Lineage Point Capital LP acquired a new stake in shares of Lafayette Acquisition during the 4th quarter worth about $3,076,000. Moore Capital Management LP acquired a new stake in shares of Lafayette Acquisition during the 4th quarter worth about $990,000. Finally, Aristeia Capital L.L.C. acquired a new stake in shares of Lafayette Acquisition during the 4th quarter worth about $3,960,000.

About Lafayette Acquisition

Lafayette Acquisition Corp. (NASDAQ: LAFA) is a special purpose acquisition company (SPAC) formed to identify, acquire, or merge with one or more operating businesses. As a blank‑check vehicle, its primary business activity is sourcing and completing a business combination that would result in a privately held company becoming publicly traded through the SPAC structure.

The company raises capital from public market investors and typically holds the IPO proceeds in trust while its management and sponsors evaluate potential targets.