Lakeshore Acquisition III Corp. (NASDAQ:LCCC) Sees Significant Decrease in Short Interest

Lakeshore Acquisition III Corp. (NASDAQ:LCCC) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 1,192 shares, a decline of 66.5% from the June 15th total of 3,562 shares. Based on an average trading volume of 18,805 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Lakeshore Acquisition III Trading Up 0.0%

LCCC traded up $0.01 during trading on Wednesday, hitting $10.45. The company’s stock had a trading volume of 8,106 shares, compared to its average volume of 37,849. The stock has a 50 day moving average price of $10.41. Lakeshore Acquisition III has a one year low of $10.02 and a one year high of $10.45.

Lakeshore Acquisition III (NASDAQ:LCCC) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.08 earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Lakeshore Acquisition III in a research report on Friday, May 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lakeshore Acquisition III currently has an average rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Sona Asset Management US LLC purchased a new position in shares of Lakeshore Acquisition III during the 1st quarter valued at about $1,030,000. Berkley W R Corp increased its holdings in Lakeshore Acquisition III by 17.0% in the 4th quarter. Berkley W R Corp now owns 205,374 shares of the company’s stock worth $2,093,000 after acquiring an additional 29,814 shares in the last quarter. Finally, Rivernorth Capital Management LLC raised its stake in Lakeshore Acquisition III by 33.6% during the 4th quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock worth $4,051,000 after acquiring an additional 100,000 shares during the period.

Lakeshore Acquisition III Company Profile

Lakeshore Acquisition III (NASDAQ: LCCC) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock exchange. As a blank‑check company, its primary business activity is to raise capital through an initial public offering and hold those proceeds in a trust while seeking a business combination, merger, asset acquisition or similar transaction that would bring a private operating company public through a reverse merger or other form of combination.

Prior to identifying and completing a qualifying business combination, Lakeshore Acquisition III does not operate traditional commercial businesses or offer products or services; instead, its operations are focused on target evaluation, due diligence, structuring potential transactions and managing the trust account and public‑company obligations.