Range Capital Acquisition Corp. (NASDAQ:RANG) Sees Large Growth in Short Interest

Range Capital Acquisition Corp. (NASDAQ:RANG) was the target of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 3,558 shares, a growth of 235.7% from the July 30th total of 1,060 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average trading volume of 1,583 shares, the short-interest ratio is currently 2.2 days.

Range Capital Acquisition Price Performance

Shares of RANG traded up $0.02 on Thursday, hitting $10.82. The company’s stock had a trading volume of 57,153 shares, compared to its average volume of 30,367. The firm’s fifty day moving average price is $10.72 and its 200-day moving average price is $10.61. Range Capital Acquisition has a fifty-two week low of $10.25 and a fifty-two week high of $11.66.

Range Capital Acquisition (NASDAQ:RANG) last announced its earnings results on Thursday, August 13th. The company reported $0.05 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Range Capital Acquisition from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Range Capital Acquisition has a consensus rating of “Sell”.

Institutional Trading of Range Capital Acquisition

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harraden Circle Investments LLC acquired a new position in shares of Range Capital Acquisition during the 4th quarter worth about $3,320,000. Governors Lane LP bought a new stake in Range Capital Acquisition during the 4th quarter worth $2,609,000. Whitebox Advisors LLC bought a new stake in Range Capital Acquisition in the 2nd quarter valued at about $2,550,000. Sona Asset Management US LLC bought a new position in shares of Range Capital Acquisition in the first quarter valued at $1,839,000. Finally, K2 Principal Fund L.P. bought a new stake in shares of Range Capital Acquisition during the fourth quarter worth about $1,231,000.

Range Capital Acquisition Company Profile

Range Capital Acquisition Corp is a publicly traded special purpose acquisition company (SPAC) listed on the NASDAQ under the symbol RANG. The company was formed to raise capital through an initial public offering with the goal of effecting a merger, stock exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. As a blank‐check vehicle, it does not currently operate any underlying business but seeks to identify a suitable target that aligns with its investment criteria.

The SPAC is sponsored by Range Capital Partners, a private equity firm with a background in investing across industrial, energy and infrastructure sectors.