Lake Superior Acquisition Corp (NASDAQ:LKSP) Sees Significant Drop in Short Interest

Lake Superior Acquisition Corp (NASDAQ:LKSP) saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 3,933 shares, a decrease of 51.5% from the July 15th total of 8,102 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 15,520 shares, the short-interest ratio is presently 0.3 days.

Lake Superior Acquisition Stock Performance

Shares of NASDAQ LKSP traded down $0.01 during midday trading on Friday, hitting $10.18. The stock had a trading volume of 50,059 shares, compared to its average volume of 12,465. The firm’s 50 day moving average is $10.16. Lake Superior Acquisition has a 52 week low of $9.89 and a 52 week high of $10.20.

Lake Superior Acquisition (NASDAQ:LKSP) last posted its earnings results on Thursday, August 13th. The company reported $0.05 EPS for the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LKSP. Rivernorth Capital Management LLC purchased a new stake in Lake Superior Acquisition in the first quarter worth about $3,015,000. Aristeia Capital L.L.C. purchased a new stake in shares of Lake Superior Acquisition during the 4th quarter valued at $4,166,000. Lineage Point Capital LP acquired a new stake in Lake Superior Acquisition in the fourth quarter worth about $1,984,000. Radcliffe Capital Management L.P. acquired a new stake in Lake Superior Acquisition in the 4th quarter worth approximately $2,083,000. Finally, Sona Asset Management US LLC purchased a new stake in shares of Lake Superior Acquisition during the first quarter valued at $892,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Lake Superior 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, the company has an average rating of “Sell”.

Lake Superior Acquisition Company 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.