GP-Act III Acquisition Corp. (NASDAQ:GPAT) Short Interest Down 46.1% in February

GP-Act III Acquisition Corp. (NASDAQ:GPAT) saw a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 1,629 shares, a decline of 46.1% from the February 12th total of 3,023 shares. Based on an average daily volume of 24,860 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 24,860 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GP-Act III Acquisition in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, GP-Act III Acquisition currently has an average rating of “Sell”.

GP-Act III Acquisition Price Performance

GPAT traded up $0.01 during trading hours on Thursday, hitting $10.79. 102,940 shares of the company’s stock were exchanged, compared to its average volume of 24,675. GP-Act III Acquisition has a 12-month low of $10.27 and a 12-month high of $10.80. The firm has a 50 day moving average of $10.74 and a 200 day moving average of $10.68.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Longfellow Investment Management Co. LLC purchased a new stake in GP-Act III Acquisition during the 3rd quarter worth about $83,000. Bank of America Corp DE acquired a new position in shares of GP-Act III Acquisition during the third quarter worth about $85,000. Clear Street Group Inc. purchased a new stake in shares of GP-Act III Acquisition during the third quarter worth approximately $109,000. Clear Street LLC increased its stake in shares of GP-Act III Acquisition by 8,429.8% during the second quarter. Clear Street LLC now owns 10,321 shares of the company’s stock worth $109,000 after buying an additional 10,200 shares during the period. Finally, Cannon Global Investment Management LLC acquired a new stake in GP-Act III Acquisition in the third quarter valued at approximately $111,000.

GP-Act III Acquisition Company Profile

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.