Cayson Acquisition (NASDAQ:CAPN) Trading 0.4% Higher – Here’s What Happened

Cayson Acquisition Corp (NASDAQ:CAPN)’s stock price rose 0.4% during mid-day trading on Wednesday . The stock traded as high as $11.06 and last traded at $11.0750. 8,264 shares changed hands during trading, an increase of 10,102% from the average session volume of 81 shares. The stock had previously closed at $11.03.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Cayson Acquisition in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Cayson Acquisition Stock Performance

The stock’s 50-day moving average is $10.99 and its two-hundred day moving average is $10.86.

Cayson Acquisition (NASDAQ:CAPN) last announced its quarterly earnings results on Friday, May 15th. The company reported $0.03 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Cayson Acquisition

A number of hedge funds have recently made changes to their positions in the company. Karpus Management Inc. boosted its position in shares of Cayson Acquisition by 10.6% during the 2nd quarter. Karpus Management Inc. now owns 292,508 shares of the company’s stock valued at $3,007,000 after acquiring an additional 28,102 shares during the last quarter. Whitebox Advisors LLC bought a new stake in Cayson Acquisition in the second quarter worth $1,290,000. Radcliffe Capital Management L.P. bought a new stake in Cayson Acquisition in the second quarter worth $280,000. Clear Street Group Inc. purchased a new stake in Cayson Acquisition during the third quarter valued at $1,049,000. Finally, Quarry LP purchased a new stake in Cayson Acquisition during the third quarter valued at $152,000.

Cayson Acquisition Company Profile

Cayson Acquisition Corp. is a Cayman Islands–incorporated blank check company formed in early 2021 to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company completed its initial public offering in March 2021 and is listed on the Nasdaq under the ticker symbol CAPN. As a special purpose acquisition company, Cayson Acquisition currently holds its capital in a trust account pending the execution of a qualifying transaction.

The company’s management team is focused on identifying high-growth opportunities across a range of industries, including technology, healthcare, consumer products and business services.