Short Interest in Eureka Acquisition Corp. (NASDAQ:EURK) Increases By 466.9%

Eureka Acquisition Corp. (NASDAQ:EURK) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 5,788 shares, an increase of 466.9% from the June 15th total of 1,021 shares. Based on an average daily volume of 61,881 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.2% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Eureka Acquisition in a research note on Monday, June 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Eureka Acquisition has an average rating of “Sell”.

Eureka Acquisition Trading Down 2.8%

Eureka Acquisition stock traded down $0.35 during midday trading on Monday, reaching $12.09. The stock had a trading volume of 13,661 shares, compared to its average volume of 12,786. The firm’s fifty day simple moving average is $11.53 and its two-hundred day simple moving average is $11.30. Eureka Acquisition has a twelve month low of $10.54 and a twelve month high of $14.28.

Eureka Acquisition (NASDAQ:EURK) last released its earnings results on Friday, May 15th. The company reported $0.13 earnings per share for the quarter.

Institutional Trading of Eureka Acquisition

Hedge funds have recently added to or reduced their stakes in the business. Clear Street Group Inc. bought a new position in Eureka Acquisition during the third quarter worth $729,000. Meteora Capital LLC bought a new stake in Eureka Acquisition in the third quarter valued at $1,386,000. Polar Asset Management Partners Inc. grew its stake in Eureka Acquisition by 193.0% during the first quarter. Polar Asset Management Partners Inc. now owns 167,000 shares of the company’s stock worth $1,894,000 after buying an additional 110,000 shares during the last quarter. Finally, Berkley W R Corp raised its holdings in shares of Eureka Acquisition by 3.2% in the first quarter. Berkley W R Corp now owns 315,488 shares of the company’s stock valued at $3,578,000 after buying an additional 9,860 shares during the last quarter.

Eureka Acquisition Company Profile

Eureka Acquisition Co (NASDAQ: EURK) is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. As a blank‐check vehicle, the company raised capital through an initial public offering to pursue mergers, acquisitions or other business combinations. Eureka Acquisition does not engage in any operational business activities of its own and has not yet announced a definitive target or transaction.

The company’s charter provides a fixed time frame—typically 24 to 36 months—to identify and complete a qualifying business combination.