Lakeshore Acquisition III Corp. (NASDAQ:LCCC) Short Interest Down 66.5% in June

Lakeshore Acquisition III Corp. (NASDAQ:LCCC) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 1,192 shares, a decline of 66.5% from the June 15th total of 3,562 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 18,805 shares, the days-to-cover ratio is currently 0.1 days.

Lakeshore Acquisition III Price Performance

NASDAQ LCCC opened at $10.44 on Monday. The company has a 50 day simple moving average of $10.40. Lakeshore Acquisition III has a 1-year low of $10.02 and a 1-year high of $10.45.

Lakeshore Acquisition III (NASDAQ:LCCC) last posted its quarterly earnings data on Thursday, April 23rd. The company reported $0.08 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Lakeshore Acquisition III in a report on Friday, May 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Lakeshore Acquisition III has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sona Asset Management US LLC bought a new stake in Lakeshore Acquisition III during the first quarter worth about $1,030,000. Berkley W R Corp boosted its holdings in shares of Lakeshore Acquisition III by 17.0% in the 4th quarter. Berkley W R Corp now owns 205,374 shares of the company’s stock valued at $2,093,000 after purchasing an additional 29,814 shares in the last quarter. Finally, Rivernorth Capital Management LLC increased its stake in shares of Lakeshore Acquisition III by 33.6% in the 4th quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock valued at $4,051,000 after purchasing an additional 100,000 shares during the last quarter.

About Lakeshore Acquisition III

Lakeshore Acquisition III (NASDAQ: LCCC) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock exchange. As a blank‑check company, its primary business activity is to raise capital through an initial public offering and hold those proceeds in a trust while seeking a business combination, merger, asset acquisition or similar transaction that would bring a private operating company public through a reverse merger or other form of combination.

Prior to identifying and completing a qualifying business combination, Lakeshore Acquisition III does not operate traditional commercial businesses or offer products or services; instead, its operations are focused on target evaluation, due diligence, structuring potential transactions and managing the trust account and public‑company obligations.