Eureka Acquisition Corp. (NASDAQ:EURK) Short Interest Up 59.3% in August

Eureka Acquisition Corp. (NASDAQ:EURK) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 462 shares, a growth of 59.3% from the August 15th total of 290 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 4,492 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of EURK. Clear Street Group Inc. raised its stake in Eureka Acquisition by 35.4% during the fourth quarter. Clear Street Group Inc. now owns 92,366 shares of the company’s stock worth $1,009,000 after buying an additional 24,135 shares during the last quarter. Polar Asset Management Partners Inc. boosted its holdings in shares of Eureka Acquisition by 193.0% during the 1st quarter. Polar Asset Management Partners Inc. now owns 167,000 shares of the company’s stock worth $1,894,000 after buying an additional 110,000 shares in the last quarter. Finally, Berkley W R Corp boosted its holdings in shares of Eureka Acquisition by 3.2% during the 1st quarter. Berkley W R Corp now owns 315,488 shares of the company’s stock worth $3,578,000 after buying an additional 9,860 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Eureka Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Eureka Acquisition Stock Down 0.8%

Shares of EURK opened at $11.40 on Friday. The stock’s 50-day moving average price is $11.70 and its two-hundred day moving average price is $11.51. Eureka Acquisition has a 12 month low of $10.68 and a 12 month high of $14.28.

Eureka Acquisition (NASDAQ:EURK) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.12 earnings per share (EPS) for the quarter.

Eureka Acquisition Company Profile

Eureka Acquisition Corp. (NASDAQ: EURK) is a special purpose acquisition company (SPAC), also known as a blank-check company. Its primary purpose is to identify and complete a business combination with an operating company or other business.

Unlike an operating company, Eureka Acquisition does not have established commercial products or services of its own. The company’s activities are focused on evaluating potential merger, acquisition, or similar transactions and completing a transaction that meets the requirements of its corporate structure and shareholders.

Publicly available information about Eureka Acquisition’s specific target, operating activities, geographic markets, and leadership is limited.