Slam Corp. (NASDAQ:SLAM) Sees Large Increase in Short Interest

Slam Corp. (NASDAQ:SLAM) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 14,400 shares, an increase of 44.0% from the May 15th total of 10,000 shares. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily volume of 8,700 shares, the days-to-cover ratio is presently 1.7 days.

Slam Price Performance

Shares of SLAM traded up $0.02 during trading hours on Friday, hitting $11.11. The stock had a trading volume of 4,456 shares, compared to its average volume of 4,475. The company’s fifty day moving average is $11.07 and its two-hundred day moving average is $10.96. Slam has a 52 week low of $10.57 and a 52 week high of $11.17. The stock has a market capitalization of $260.56 million, a price-to-earnings ratio of 100.73 and a beta of 0.01.

Slam (NASDAQ:SLAM) last posted its earnings results on Thursday, May 16th. The company reported ($0.04) earnings per share for the quarter.

Hedge Funds Weigh In On Slam

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SLAM. Mizuho Securities USA LLC bought a new position in shares of Slam during the first quarter worth about $3,327,000. Spartan Fund Management Inc. bought a new stake in Slam during the 1st quarter worth about $166,000. Flow State Investments L.P. grew its holdings in shares of Slam by 78.4% in the 4th quarter. Flow State Investments L.P. now owns 190,000 shares of the company’s stock valued at $2,062,000 after acquiring an additional 83,500 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Slam by 24.6% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 284,500 shares of the company’s stock valued at $3,087,000 after acquiring an additional 56,150 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in Slam by 25.2% during the fourth quarter. Gabelli Funds LLC now owns 276,966 shares of the company’s stock worth $3,005,000 after acquiring an additional 55,747 shares in the last quarter. Institutional investors own 87.25% of the company’s stock.

Slam Company Profile

Slam Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses or entities. The company was incorporated in 2020 and is based in New York, New York.