SUMA Acquisition Corporation’s Lock-Up Period To End on September 7th (NASDAQ:SUMA)

SUMA Acquisition’s (NASDAQ:SUMA) lock-up period is set to expire on Monday, September 7th. SUMA Acquisition had issued 15,000,000 shares in its IPO on March 11th. The total size of the offering was $150,000,000 based on an initial share price of $10.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings initiated coverage on shares of SUMA Acquisition in a report on Thursday, August 13th. They set a “sell (e)” rating for the company. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, SUMA Acquisition has an average rating of “Sell”.

SUMA Acquisition Stock Performance

Shares of SUMA stock opened at $9.96 on Friday. SUMA Acquisition has a fifty-two week low of $9.83 and a fifty-two week high of $9.97. The stock has a 50 day simple moving average of $9.93.

Institutional Trading of SUMA Acquisition

A hedge fund recently bought a new stake in SUMA Acquisition stock. Lineage Point Capital LP acquired a new position in SUMA Acquisition Corporation (NASDAQ:SUMA) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 150,201 shares of the company’s stock, valued at approximately $1,517,000. Lineage Point Capital LP owned approximately 0.85% of SUMA Acquisition at the end of the most recent quarter.

SUMA Acquisition Company Profile

Suma Acquisition Corp is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.