EGH Acquisition Corp. (NASDAQ:EGHA) Sees Significant Drop in Short Interest

EGH Acquisition Corp. (NASDAQ:EGHA) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 297 shares, a decline of 89.3% from the June 15th total of 2,772 shares. Based on an average daily volume of 72,426 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of EGH Acquisition in a research report on Thursday, June 18th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

EGH Acquisition Trading Down 0.1%

Shares of EGH Acquisition stock traded down $0.01 on Friday, reaching $10.34. 15,981 shares of the company were exchanged, compared to its average volume of 68,924. EGH Acquisition has a 1-year low of $9.31 and a 1-year high of $10.80. The stock has a 50-day moving average price of $10.31.

Hedge Funds Weigh In On EGH Acquisition

Several hedge funds and other institutional investors have recently modified their holdings of EGHA. DLD Asset Management LP bought a new position in shares of EGH Acquisition during the first quarter worth about $347,000. Verbena Value LP bought a new stake in EGH Acquisition in the 1st quarter valued at about $4,981,000. Lineage Point Capital LP acquired a new position in EGH Acquisition during the 4th quarter valued at about $465,000. Toronto Dominion Bank boosted its stake in EGH Acquisition by 252.2% during the 4th quarter. Toronto Dominion Bank now owns 177,958 shares of the company’s stock valued at $1,803,000 after purchasing an additional 127,436 shares during the period. Finally, Rivernorth Capital Management LLC grew its position in EGH Acquisition by 33.6% in the 4th quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock worth $4,027,000 after purchasing an additional 100,000 shares during the last quarter.

About EGH Acquisition

EGH Acquisition (NASDAQ: EGHA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses. As a blank‑check vehicle, the company’s primary business activity is to raise capital through an initial public offering and to seek qualifying target companies for a business combination that would result in the target becoming a publicly listed entity.

Like other SPACs, EGH Acquisition typically holds the proceeds of its offering in trust while it evaluates potential targets and transaction structures.