SUMA Acquisition Corporation (NASDAQ:SUMA) Sees Significant Decline in Short Interest

SUMA Acquisition Corporation (NASDAQ:SUMA) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 750 shares, a drop of 62.3% from the September 15th total of 1,987 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 5,586 shares, the short-interest ratio is presently 0.1 days.

Institutional Trading of SUMA Acquisition

A hedge fund recently bought a new stake in SUMA Acquisition stock. Lineage Point Capital LP bought a new position in SUMA Acquisition Corporation (NASDAQ:SUMA) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 150,201 shares of the company’s stock, valued at approximately $1,517,000. Lineage Point Capital LP owned about 0.85% of SUMA Acquisition as of its most recent SEC filing.

SUMA Acquisition Price Performance

Shares of SUMA Acquisition stock traded up $0.01 during midday trading on Tuesday, reaching $9.96. The company had a trading volume of 1,780 shares, compared to its average volume of 28,451. The stock’s fifty day moving average is $9.94. SUMA Acquisition has a fifty-two week low of $9.83 and a fifty-two week high of $9.97.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings began coverage on SUMA Acquisition in a research report on Thursday, August 13th. They issued a “sell (e)” rating on the stock. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

About SUMA Acquisition

Suma Acquisition Corp. (NASDAQ: SUMA) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transaction could take the form of a merger, share exchange, asset acquisition, reorganization or similar corporate combination.

Unlike an operating company, Suma Acquisition Corp. does not have its own commercial products, services or established customer base. Its activities are primarily focused on evaluating potential acquisition targets, negotiating a transaction and completing the related regulatory and shareholder approval processes.

Because Suma Acquisition Corp.