GP-Act III Acquisition Corp. (NASDAQ:GPAT) Sees Large Growth in Short Interest

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 5,242 shares, an increase of 269.2% from the September 30th total of 1,420 shares. Based on an average daily volume of 572 shares, the short-interest ratio is presently 9.2 days.

GP-Act III Acquisition Trading Up 0.2%

GP-Act III Acquisition stock traded up $0.03 during mid-day trading on Wednesday, hitting $11.06. The company’s stock had a trading volume of 27,473 shares, compared to its average volume of 108,297. GP-Act III Acquisition has a twelve month low of $10.57 and a twelve month high of $12.00. The stock’s fifty day moving average price is $11.08 and its two-hundred day moving average price is $10.93.

GP-Act III Acquisition (NASDAQ:GPAT) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.01 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded GP-Act III Acquisition from a “sell (d)” rating to a “hold (c-)” rating in a report on Monday, August 24th. One analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Institutional Investors Weigh In On GP-Act III Acquisition

Several hedge funds have recently modified their holdings of the stock. Berkley W R Corp boosted its position in shares of GP-Act III Acquisition by 171.2% in the 1st quarter. Berkley W R Corp now owns 846,823 shares of the company’s stock valued at $9,180,000 after purchasing an additional 534,533 shares during the period. Sona Asset Management US LLC acquired a new stake in GP-Act III Acquisition during the 1st quarter worth about $2,168,000. Finally, Citadel Advisors LLC lifted its stake in GP-Act III Acquisition by 16.7% during the second quarter. Citadel Advisors LLC now owns 20,039 shares of the company’s stock valued at $218,000 after buying an additional 2,867 shares in the last quarter.

GP-Act III Acquisition Company Profile

GP-Act III Acquisition Corp. is a special purpose acquisition company (SPAC) listed on the Nasdaq Stock Market under the symbol GPAT. The company was formed to identify and complete a business combination with an operating company.

Rather than offering products or services of its own, GP-Act III Acquisition focuses on evaluating potential merger, acquisition, stock purchase, reorganization, or similar transactions. Its future business activities will depend on the company or business it ultimately combines with.

Publicly available information about GP-Act III Acquisition’s target industry, geographic focus, and leadership is limited.