Lafayette Acquisition (NASDAQ:LAFA) Shares Down 0.3% – What’s Next?

Lafayette Acquisition Corp. (NASDAQ:LAFA) shares fell 0.3% during mid-day trading on Friday . The company traded as low as $10.11 and last traded at $10.08. Approximately 108 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 3,150 shares. The stock had previously closed at $10.11.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Lafayette Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lafayette Acquisition has an average rating of “Sell”.

Lafayette Acquisition Price Performance

The stock has a 50-day simple moving average of $10.08.

Lafayette Acquisition (NASDAQ:LAFA) last posted its quarterly earnings results on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter.

Hedge Funds Weigh In On Lafayette Acquisition

A number of large investors have recently made changes to their positions in LAFA. Lineage Point Capital LP bought a new position in Lafayette Acquisition in the 4th quarter worth about $3,076,000. Aristeia Capital L.L.C. bought a new stake in shares of Lafayette Acquisition during the fourth quarter valued at about $3,960,000. Radcliffe Capital Management L.P. bought a new stake in shares of Lafayette Acquisition during the fourth quarter valued at about $1,980,000. Clear Street Group Inc. purchased a new stake in shares of Lafayette Acquisition in the fourth quarter worth about $1,273,000. Finally, 683 Capital Management LLC bought a new position in shares of Lafayette Acquisition in the fourth quarter valued at approximately $2,475,000.

Lafayette Acquisition Company Profile

Lafayette Acquisition Corp. (NASDAQ: LAFA) is a special purpose acquisition company (SPAC) formed to identify, acquire, or merge with one or more operating businesses. As a blank‑check vehicle, its primary business activity is sourcing and completing a business combination that would result in a privately held company becoming publicly traded through the SPAC structure.

The company raises capital from public market investors and typically holds the IPO proceeds in trust while its management and sponsors evaluate potential targets.