Launch One Acquisition Corp. (NASDAQ:LPAA) Sees Large Drop in Short Interest

Launch One Acquisition Corp. (NASDAQ:LPAA) was the recipient of a significant decline in short interest in December. As of December 31st, there was short interest totaling 516 shares, a decline of 83.3% from the December 15th total of 3,095 shares. Based on an average daily volume of 44,784 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are sold short. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 44,784 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Launch One Acquisition in a report on Friday. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Launch One Acquisition

A number of institutional investors have recently modified their holdings of the company. Longfellow Investment Management Co. LLC acquired a new position in Launch One Acquisition in the 3rd quarter valued at $81,000. Clear Street Group Inc. bought a new position in shares of Launch One Acquisition in the third quarter worth about $114,000. Clear Street LLC bought a new stake in Launch One Acquisition during the 2nd quarter valued at approximately $116,000. Radcliffe Capital Management L.P. acquired a new stake in Launch One Acquisition in the 3rd quarter valued at approximately $587,000. Finally, Quarry LP increased its position in Launch One Acquisition by 200.0% in the 3rd quarter. Quarry LP now owns 150,000 shares of the company’s stock worth $1,575,000 after buying an additional 100,000 shares during the period.

Launch One Acquisition Price Performance

NASDAQ LPAA traded down $0.01 during trading on Tuesday, hitting $10.62. 27,325 shares of the company traded hands, compared to its average volume of 56,916. Launch One Acquisition has a 12 month low of $10.06 and a 12 month high of $10.70. The business has a fifty day simple moving average of $10.57 and a 200 day simple moving average of $10.50.

Launch One Acquisition (NASDAQ:LPAA) last released its quarterly earnings results on Thursday, November 13th. The company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $2.53 million for the quarter.

Launch One Acquisition Company Profile

Launch One Acquisition Corp is a blank check company incorporated in Delaware. Its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Shares and warrants of the company trade on the Nasdaq Global Market under the ticker symbols “LPAA” and “LPAAW.”

The company completed its initial public offering in 2021, raising gross proceeds through the sale of units, each consisting of one share of common stock and one quarter of a warrant.