GP-Act III Acquisition Corp. (NASDAQ:GPAT) Short Interest Down 18.9% in December

GP-Act III Acquisition Corp. (NASDAQ:GPAT) saw a significant decrease in short interest in the month of December. As of December 15th, there was short interest totaling 1,855 shares, a decrease of 18.9% from the November 30th total of 2,287 shares. Based on an average daily trading volume, of 2,526 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 2,526 shares, the days-to-cover ratio is currently 0.7 days.

GP-Act III Acquisition Stock Up 0.0%

Shares of NASDAQ GPAT opened at $10.70 on Friday. GP-Act III Acquisition has a one year low of $10.14 and a one year high of $10.72. The business’s fifty day moving average price is $10.67 and its 200-day moving average price is $10.61.

GP-Act III Acquisition (NASDAQ:GPAT) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.09 earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of GP-Act III Acquisition in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Trading of GP-Act III Acquisition

A number of institutional investors have recently modified their holdings of GPAT. Meteora Capital LLC purchased a new position in GP-Act III Acquisition during the 2nd quarter valued at about $20,330,000. Alberta Investment Management Corp purchased a new position in GP-Act III Acquisition during the second quarter valued at approximately $17,144,000. Wealthspring Capital LLC increased its holdings in GP-Act III Acquisition by 406.1% during the 2nd quarter. Wealthspring Capital LLC now owns 1,059,042 shares of the company’s stock worth $11,173,000 after acquiring an additional 849,783 shares during the period. Wolverine Asset Management LLC increased its holdings in GP-Act III Acquisition by 90.6% during the 3rd quarter. Wolverine Asset Management LLC now owns 954,866 shares of the company’s stock worth $10,122,000 after acquiring an additional 453,866 shares during the period. Finally, Linden Advisors LP purchased a new stake in GP-Act III Acquisition in the 3rd quarter worth approximately $8,454,000.

About GP-Act III Acquisition

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.