Eureka Acquisition Corp. (NASDAQ:EURK) Stock Short Interest Climbs 242.1%

Eureka Acquisition Corp. (NASDAQ:EURK) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 390 shares, a growth of 242.1% from the September 15th total of 114 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 2,361 shares, the days-to-cover ratio is presently 0.2 days.

Eureka Acquisition Stock Performance

Shares of Eureka Acquisition stock remained flat at $11.50 during trading on Monday. 270 shares of the stock were exchanged, compared to its average volume of 7,987. The stock’s 50-day moving average is $11.61 and its two-hundred day moving average is $11.55. Eureka Acquisition has a one year low of $10.74 and a one year high of $14.28.

Eureka Acquisition (NASDAQ:EURK) last posted its earnings results on Thursday, July 23rd. The company reported $0.12 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Eureka Acquisition

Several institutional investors and hedge funds have recently bought and sold shares of EURK. Polar Asset Management Partners Inc. grew its position in shares of Eureka Acquisition by 193.0% in the 1st quarter. Polar Asset Management Partners Inc. now owns 167,000 shares of the company’s stock worth $1,894,000 after buying an additional 110,000 shares during the last quarter. Clear Street Group Inc. raised its holdings in shares of Eureka Acquisition by 35.4% during the fourth quarter. Clear Street Group Inc. now owns 92,366 shares of the company’s stock valued at $1,009,000 after acquiring an additional 24,135 shares in the last quarter. Finally, Berkley W R Corp raised its holdings in shares of Eureka Acquisition by 3.2% during the first quarter. Berkley W R Corp now owns 315,488 shares of the company’s stock valued at $3,578,000 after acquiring an additional 9,860 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Eureka Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, July 28th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Eureka Acquisition presently has an average rating of “Sell”.

Eureka Acquisition Company Profile

Eureka Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Its potential transactions may include a merger, share exchange, asset acquisition, share purchase, recapitalization or reorganization.

Unlike an operating company, Eureka Acquisition Corp. does not have a portfolio of products or services of its own. Its principal activity is evaluating potential acquisition targets and pursuing a transaction intended to create a publicly traded operating business.

The company was established as a blank-check company and has been listed on the Nasdaq Capital Market under the symbol EURK.