Polar Asset Management Partners Inc. Lowers Stock Holdings in Lake Superior Acquisition Corp $LKSP

Polar Asset Management Partners Inc. reduced its stake in Lake Superior Acquisition Corp (NASDAQ:LKSP) by 47.6% during the first quarter, HoldingsChannel.com reports. The firm owned 219,900 shares of the company’s stock after selling 200,100 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Lake Superior Acquisition were worth $2,210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Arbitrage LLC bought a new position in Lake Superior Acquisition during the 4th quarter valued at approximately $5,414,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Lake Superior Acquisition in the fourth quarter worth $4,970,000. Aristeia Capital L.L.C. bought a new stake in Lake Superior Acquisition in the fourth quarter worth $4,166,000. Hudson Bay Capital Management LP purchased a new stake in shares of Lake Superior Acquisition in the fourth quarter worth $4,175,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in shares of Lake Superior Acquisition during the fourth quarter valued at $3,472,000.

Lake Superior Acquisition Stock Performance

Shares of NASDAQ:LKSP opened at $10.16 on Tuesday. Lake Superior Acquisition Corp has a 1 year low of $9.89 and a 1 year high of $10.17. The firm’s fifty day simple moving average is $10.14.

Lake Superior Acquisition (NASDAQ:LKSP) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.04 EPS for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings raised Lake Superior Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Lake Superior Acquisition Profile

Lake Superior Acquisition Corp. (NASDAQ: LKSP) is a special purpose acquisition company (SPAC) formed to identify, acquire or merge with one or more businesses. As a blank‑check vehicle, its principal purpose is to raise capital in the public markets and use those proceeds, typically held in trust, to complete a business combination that delivers an operating company to public investors.

The company’s primary activities center on sourcing, negotiating and consummating an initial business combination.