Columbus Acquisition Corp/Cayman Islands (NASDAQ:COLA) Short Interest Up 1,733.0% in August

Columbus Acquisition Corp/Cayman Islands (NASDAQ:COLA) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 4,894 shares, an increase of 1,733.0% from the August 15th total of 267 shares. Based on an average daily trading volume, of 20,363 shares, the days-to-cover ratio is presently 0.2 days.

Columbus Acquisition Corp/Cayman Islands Price Performance

Shares of COLA stock traded down $1.45 on Thursday, hitting $8.30. The stock had a trading volume of 104,602 shares, compared to its average volume of 33,069. Columbus Acquisition Corp/Cayman Islands has a 1 year low of $8.02 and a 1 year high of $11.15. The company’s 50 day moving average price is $10.60 and its 200-day moving average price is $10.61.

Columbus Acquisition Corp/Cayman Islands (NASDAQ:COLA) last announced its earnings results on Tuesday, August 4th. The company reported $0.02 EPS for the quarter.

Analyst Upgrades and Downgrades

COLA has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Columbus Acquisition Corp/Cayman Islands in a research report on Monday, June 29th. Wall Street Zen lowered Columbus Acquisition Corp/Cayman Islands from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Trading of Columbus Acquisition Corp/Cayman Islands

Several hedge funds have recently made changes to their positions in COLA. Citadel Advisors LLC purchased a new position in shares of Columbus Acquisition Corp/Cayman Islands in the second quarter valued at approximately $144,000. HRT Financial LP purchased a new stake in Columbus Acquisition Corp/Cayman Islands during the 4th quarter worth approximately $172,000. Clear Street Group Inc. increased its stake in Columbus Acquisition Corp/Cayman Islands by 1,173.3% during the 4th quarter. Clear Street Group Inc. now owns 77,967 shares of the company’s stock worth $810,000 after buying an additional 71,844 shares during the period. L1 Global Manager Pty Ltd acquired a new stake in Columbus Acquisition Corp/Cayman Islands during the 4th quarter worth approximately $1,039,000. Finally, Rivernorth Capital Management LLC lifted its holdings in Columbus Acquisition Corp/Cayman Islands by 51.8% during the 4th quarter. Rivernorth Capital Management LLC now owns 299,756 shares of the company’s stock worth $3,114,000 after buying an additional 102,256 shares in the last quarter.

Columbus Acquisition Corp/Cayman Islands Company Profile

Columbus Acquisition Corp/Cayman Islands (NASDAQ: COLA) is a Cayman Islands–incorporated special purpose acquisition company (SPAC) listed on the Nasdaq stock exchange. As a blank-check company, its stated principal business purpose is to raise capital through an initial public offering and to seek one or more business combinations, acquisitions, mergers, or similar transactions that would result in a change of business, operations or management for the combined company.

The company does not operate an ongoing commercial business or produce products or services in the way an operating company does.