Lafayette Acquisition (NASDAQ:LAFA) Releases Earnings Results

Lafayette Acquisition (NASDAQ:LAFA) announced its earnings results on Thursday. The company reported $0.06 EPS for the quarter, FiscalAI reports.

Lafayette Acquisition Stock Performance

Shares of LAFA stock remained flat at $10.13 during mid-day trading on Friday. The company’s stock had a trading volume of 308 shares, compared to its average volume of 4,608. Lafayette Acquisition has a 12 month low of $9.87 and a 12 month high of $10.20. The stock has a 50-day simple moving average of $10.10.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Lafayette Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Lafayette Acquisition has a consensus rating of “Sell”.

Institutional Investors Weigh In On Lafayette Acquisition

Large investors have recently modified their holdings of the stock. Rivernorth Capital Management LLC purchased a new stake in shares of Lafayette Acquisition during the 1st quarter worth $2,991,000. Sona Asset Management US LLC purchased a new position in Lafayette Acquisition in the 1st quarter valued at about $3,490,000. Lineage Point Capital LP purchased a new stake in shares of Lafayette Acquisition during the fourth quarter worth about $3,076,000. Moore Capital Management LP acquired a new position in shares of Lafayette Acquisition in the fourth quarter valued at approximately $990,000. Finally, Aristeia Capital L.L.C. acquired a new position in shares of Lafayette Acquisition in the fourth quarter valued at approximately $3,960,000.

About Lafayette Acquisition

Lafayette Acquisition Corp. (NASDAQ: LAFA) is a special purpose acquisition company (SPAC) formed to identify, acquire, or merge with one or more operating businesses. As a blank‑check vehicle, its primary business activity is sourcing and completing a business combination that would result in a privately held company becoming publicly traded through the SPAC structure.

The company raises capital from public market investors and typically holds the IPO proceeds in trust while its management and sponsors evaluate potential targets.