Cal Redwood Acquisition Corp. (NASDAQ:CRAQ) Sees Significant Decline in Short Interest

Cal Redwood Acquisition Corp. (NASDAQ:CRAQ) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totaling 244 shares, a decline of 55.8% from the September 15th total of 552 shares. Based on an average daily trading volume, of 45,995 shares, the short-interest ratio is currently 0.0 days.

Institutional Trading of Cal Redwood Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in CRAQ. Lineage Point Capital LP acquired a new position in Cal Redwood Acquisition during the 4th quarter worth $2,846,000. Sona Asset Management US LLC bought a new stake in shares of Cal Redwood Acquisition in the 1st quarter worth about $3,086,000. Finally, Radcliffe Capital Management L.P. raised its stake in shares of Cal Redwood Acquisition by 16.3% in the 4th quarter. Radcliffe Capital Management L.P. now owns 545,628 shares of the company’s stock valued at $5,524,000 after purchasing an additional 76,582 shares in the last quarter.

Cal Redwood Acquisition Price Performance

NASDAQ CRAQ traded up $0.01 during mid-day trading on Tuesday, reaching $10.42. 78,116 shares of the company’s stock traded hands, compared to its average volume of 57,215. Cal Redwood Acquisition has a 1-year low of $10.04 and a 1-year high of $10.43. The company has a fifty day simple moving average of $10.38 and a 200-day simple moving average of $10.30.

Cal Redwood Acquisition (NASDAQ:CRAQ) last announced its earnings results on Monday, August 17th. The company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $2.11 million during the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Cal Redwood Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Cal Redwood Acquisition Company Profile

Cal Redwood Acquisition Corp. (NASDAQ: CRAQ) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Potential transactions may include a merger, stock exchange, asset acquisition, reorganization or similar corporate combination.

As a SPAC, Cal Redwood Acquisition does not operate a conventional business or currently offer products and services to customers. Its activities are primarily focused on evaluating potential acquisition targets and completing a transaction that would allow a private company to become publicly traded.

Information about a completed operating combination, specific target industries, geographic markets and company leadership is limited.