NewHold Investment Corp III (NASDAQ:NHIC) Sees Significant Increase in Short Interest

NewHold Investment Corp III (NASDAQ:NHIC) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 55,546 shares, an increase of 93.5% from the May 31st total of 28,702 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 157,787 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NHIC. Clear Street Group Inc. bought a new stake in NewHold Investment Corp III during the 3rd quarter worth approximately $67,000. Sandia Investment Management LP bought a new position in shares of NewHold Investment Corp III in the second quarter worth approximately $254,000. Alyeska Investment Group L.P. bought a new position in shares of NewHold Investment Corp III in the third quarter worth approximately $450,000. JPMorgan Chase & Co. purchased a new stake in shares of NewHold Investment Corp III in the second quarter worth $1,015,000. Finally, Context Capital Management LLC purchased a new stake in shares of NewHold Investment Corp III in the third quarter worth $1,018,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded NewHold Investment Corp III from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

NewHold Investment Corp III Price Performance

Shares of NHIC stock remained flat at $11.00 during mid-day trading on Friday. 7,322 shares of the stock were exchanged, compared to its average volume of 61,213. NewHold Investment Corp III has a 12-month low of $10.15 and a 12-month high of $11.60. The firm’s 50 day moving average price is $10.81 and its 200 day moving average price is $10.54. The stock has a market cap of $303.74 million, a price-to-earnings ratio of 91.67 and a beta of 0.28.

NewHold Investment Corp III (NASDAQ:NHIC) last released its quarterly earnings results on Monday, May 18th. The company reported $0.03 earnings per share (EPS) for the quarter. The company had revenue of $3.71 million for the quarter.

NewHold Investment Corp III Company Profile

NewHold Investment Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination, with one or more target businesses. The company was formerly known as NewHold Industrial Corp. and changed its name to NewHold Investment Corp. in February 2020. NewHold Investment Corp. was incorporated in 2020 and is based in Houston, Texas.