Short Interest in Starboard Value Acquisition Corp. (NASDAQ:SVAC) Drops By 57.5%

Starboard Value Acquisition Corp. (NASDAQ:SVAC) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 27,197 shares, a decline of 57.5% from the May 31st total of 63,986 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 112,154 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Starboard Value Acquisition

Institutional investors and hedge funds have recently modified their holdings of the stock. Clear Street Group Inc. bought a new position in shares of Starboard Value Acquisition in the fourth quarter valued at about $73,000. Virtu Financial LLC acquired a new position in Starboard Value Acquisition in the 4th quarter valued at about $186,000. Cannon Global Investment Management LLC acquired a new position in Starboard Value Acquisition in the 1st quarter valued at about $279,000. Readystate Asset Management LP bought a new position in Starboard Value Acquisition in the 1st quarter valued at about $311,000. Finally, Boothbay Fund Management LLC bought a new position in Starboard Value Acquisition in the 4th quarter valued at about $445,000.

Starboard Value Acquisition Stock Performance

Shares of SVAC traded up $0.06 during mid-day trading on Wednesday, reaching $10.31. The company’s stock had a trading volume of 108,896 shares, compared to its average volume of 344,134. Starboard Value Acquisition has a 1-year low of $10.03 and a 1-year high of $12.00. The business has a 50-day simple moving average of $10.43 and a two-hundred day simple moving average of $10.38.

Starboard Value Acquisition (NASDAQ:SVAC) last issued its earnings results on Thursday, May 14th. The company reported ($13.80) EPS for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Starboard Value Acquisition has a consensus rating of “Sell”.

Starboard Value Acquisition Company Profile

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.