GP-Act III Acquisition (NASDAQ:GPAT) Announces Quarterly Earnings Results

GP-Act III Acquisition (NASDAQ:GPAT) issued its quarterly earnings data on Friday. The company reported $0.01 EPS for the quarter, FiscalAI reports.

GP-Act III Acquisition Stock Performance

GPAT stock traded down $0.12 during mid-day trading on Friday, reaching $11.04. 734 shares of the company’s stock were exchanged, compared to its average volume of 128,407. The stock’s 50 day moving average is $11.01 and its 200 day moving average is $10.88. GP-Act III Acquisition has a 12-month low of $10.50 and a 12-month high of $12.00.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, GP-Act III Acquisition presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On GP-Act III Acquisition

A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new stake in shares of GP-Act III Acquisition during the 2nd quarter valued at about $2,377,000. Shaolin Capital Management LLC acquired a new position in GP-Act III Acquisition during the 2nd quarter worth about $1,055,000. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in GP-Act III Acquisition during the second quarter worth $7,800,000. Radcliffe Capital Management L.P. bought a new stake in shares of GP-Act III Acquisition in the 2nd quarter valued at $1,559,000. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in GP-Act III Acquisition in the 3rd quarter valued at $203,000.

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.