Paloma Acquisition Corp I (NASDAQ:PALO) Sees Large Increase in Short Interest

Paloma Acquisition Corp I (NASDAQ:PALO) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 2,011 shares, a growth of 207.0% from the August 31st total of 655 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 5,158 shares, the days-to-cover ratio is currently 0.4 days.

Paloma Acquisition Corp I Stock Performance

PALO traded down $0.05 during trading on Friday, hitting $9.97. The stock had a trading volume of 5,195 shares, compared to its average volume of 3,092. Paloma Acquisition Corp I has a twelve month low of $9.84 and a twelve month high of $10.08. The business has a 50-day moving average of $9.97.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings began coverage on shares of Paloma Acquisition Corp I in a research note on Friday, August 14th. They set a “sell (e)” rating for the company. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Paloma Acquisition Corp I Company Profile

Paloma Acquisition Corp I is a blank-check company, also known as a special purpose acquisition company (SPAC). Rather than operating a traditional business or selling products and services, the company was formed to raise capital through an initial public offering and pursue a business combination with an existing company.

Its activities center on identifying a target business, conducting due diligence, and completing a merger, acquisition, or similar transaction. Until such a transaction is completed, Paloma Acquisition Corp I generally does not have significant commercial operations, products, or geographic markets of its own.

Publicly available information about the company’s specific acquisition strategy, operating leadership, and target-business focus is limited.