LightWave Acquisition (NASDAQ:LWAC) Shares Down 0.5% – Here’s Why

Shares of LightWave Acquisition Corp. (NASDAQ:LWAC) dropped 0.5% on Monday . The stock traded as low as $10.29 and last traded at $10.30. 5,136 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 11,148 shares. The stock had previously closed at $10.35.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of LightWave Acquisition in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

LightWave Acquisition Stock Down 0.5%

The business’s fifty day moving average is $10.25 and its 200 day moving average is $10.19.

LightWave Acquisition (NASDAQ:LWAC) last announced its quarterly earnings data on Friday, May 15th. The company reported $0.06 earnings per share for the quarter.

Hedge Funds Weigh In On LightWave Acquisition

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. bought a new stake in shares of LightWave Acquisition in the first quarter valued at approximately $3,646,000. Sona Asset Management US LLC purchased a new position in LightWave Acquisition in the 1st quarter valued at approximately $2,031,000. Millennium Management LLC purchased a new position in LightWave Acquisition in the 4th quarter valued at approximately $5,516,000. Governors Lane LP raised its holdings in LightWave Acquisition by 14.3% during the 4th quarter. Governors Lane LP now owns 342,966 shares of the company’s stock valued at $3,443,000 after acquiring an additional 42,966 shares during the period. Finally, Meteora Capital LLC purchased a new stake in shares of LightWave Acquisition during the fourth quarter worth $1,504,000.

LightWave Acquisition Company Profile

Locust Walk Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in Boston, Massachusetts.