Lafayette Acquisition Corp. (NASDAQ:LAFAR) Sees Significant Growth in Short Interest

Lafayette Acquisition Corp. (NASDAQ:LAFAR) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 2,414 shares, a growth of 59.4% from the September 15th total of 1,514 shares. Based on an average daily volume of 1,096 shares, the days-to-cover ratio is presently 2.2 days.

Lafayette Acquisition Price Performance

Shares of NASDAQ:LAFAR remained flat at $0.07 during midday trading on Friday. The stock’s 50-day simple moving average is $0.08 and its 200-day simple moving average is $0.10. Lafayette Acquisition has a 52 week low of $0.07 and a 52 week high of $0.30.

Institutional Investors Weigh In On Lafayette Acquisition

A hedge fund recently bought a new position in Lafayette Acquisition stock. Rivernorth Capital Management LLC acquired a new position in shares of Lafayette Acquisition Corp. (NASDAQ:LAFAR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 300,000 shares of the company’s stock, valued at approximately $36,000.

Lafayette Acquisition Company Profile

Lafayette Acquisition is a special purpose acquisition company, or blank-check company, formed to pursue a merger, share exchange, asset acquisition, or similar business combination with one or more operating businesses.

Unlike an operating company, Lafayette Acquisition does not appear to have established products, services, or commercial operations of its own. Its primary activities are evaluating potential acquisition opportunities and seeking shareholder approval for a proposed transaction.

Publicly available information about the company’s target industry, geographic focus, operating history, and leadership is limited.