Short Interest in GP-Act III Acquisition Corp. (NASDAQ:GPAT) Increases By 126.8%

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 3,517 shares, an increase of 126.8% from the December 31st total of 1,551 shares. Based on an average trading volume of 2,452 shares, the short-interest ratio is presently 1.4 days. Based on an average trading volume of 2,452 shares, the short-interest ratio is presently 1.4 days.

GP-Act III Acquisition Price Performance

GP-Act III Acquisition stock traded down $0.01 during midday trading on Thursday, reaching $10.74. The company’s stock had a trading volume of 1,781 shares, compared to its average volume of 23,242. GP-Act III Acquisition has a fifty-two week low of $10.19 and a fifty-two week high of $10.75. The stock’s 50 day simple moving average is $10.69 and its 200 day simple moving average is $10.63.

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

Hedge Funds Weigh In On GP-Act III Acquisition

Several hedge funds have recently bought and sold shares of the company. Longfellow Investment Management Co. LLC purchased a new stake in GP-Act III Acquisition during the third quarter worth $83,000. Bank of America Corp DE acquired a new position in shares of GP-Act III Acquisition during the 3rd quarter worth $85,000. Clear Street Group Inc. purchased a new stake in shares of GP-Act III Acquisition in the 3rd quarter worth about $109,000. Clear Street LLC grew its stake in GP-Act III Acquisition by 8,429.8% in the 2nd quarter. Clear Street LLC now owns 10,321 shares of the company’s stock valued at $109,000 after acquiring an additional 10,200 shares during the last quarter. Finally, Cannon Global Investment Management LLC purchased a new position in GP-Act III Acquisition during the 3rd quarter valued at about $111,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

GP-Act III Acquisition Company Profile

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.