Lake Superior Acquisition Corp (NASDAQ:LKSP) Sees Large Growth in Short Interest

Lake Superior Acquisition Corp (NASDAQ:LKSP) was the target of a significant increase in short interest in August. As of August 14th, there was short interest totaling 5,868 shares, an increase of 49.2% from the July 30th total of 3,933 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 20,770 shares, the short-interest ratio is presently 0.3 days.

Lake Superior Acquisition Price Performance

Shares of NASDAQ:LKSP traded up $0.01 during trading on Tuesday, hitting $10.21. 33 shares of the stock were exchanged, compared to its average volume of 33,133. The company has a fifty day moving average price of $10.17 and a two-hundred day moving average price of $10.11. Lake Superior Acquisition has a 12-month low of $9.89 and a 12-month high of $10.22.

Lake Superior Acquisition (NASDAQ:LKSP) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.05 earnings per share for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Lake Superior Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rivernorth Capital Management LLC purchased a new position in Lake Superior Acquisition during the 1st quarter valued at about $3,015,000. Aristeia Capital L.L.C. acquired a new stake in shares of Lake Superior Acquisition in the fourth quarter valued at approximately $4,166,000. Lineage Point Capital LP acquired a new stake in shares of Lake Superior Acquisition in the fourth quarter valued at approximately $1,984,000. Radcliffe Capital Management L.P. purchased a new position in shares of Lake Superior Acquisition during the 4th quarter worth approximately $2,083,000. Finally, Sona Asset Management US LLC acquired a new position in shares of Lake Superior Acquisition during the 1st quarter worth approximately $892,000.

About Lake Superior Acquisition

Lake Superior Acquisition Corp. (NASDAQ: LKSP) is a special purpose acquisition company (SPAC) formed to identify, acquire or merge with one or more businesses. As a blank‑check vehicle, its principal purpose is to raise capital in the public markets and use those proceeds, typically held in trust, to complete a business combination that delivers an operating company to public investors.

The company’s primary activities center on sourcing, negotiating and consummating an initial business combination.