Short Interest in Futurewave Acquisition Corp (NASDAQ:FWACU) Declines By 79.6%

Futurewave Acquisition Corp (NASDAQ:FWACU) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 160 shares, a drop of 79.6% from the August 15th total of 784 shares. Based on an average trading volume of 90 shares, the days-to-cover ratio is presently 1.8 days.

Futurewave Acquisition Price Performance

FWACU opened at $10.24 on Friday. Futurewave Acquisition has a 52-week low of $10.00 and a 52-week high of $10.24. The stock’s 50 day simple moving average is $10.11.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Futurewave Acquisition to a “hold” rating in a research note on Saturday, July 4th.

Institutional Investors Weigh In On Futurewave Acquisition

An institutional investor recently raised its stake in Futurewave Acquisition stock. Readystate Asset Management LP increased its holdings in Futurewave Acquisition Corp (NASDAQ:FWACU) by 127.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,357 shares of the company’s stock after acquiring an additional 37,694 shares during the quarter. Readystate Asset Management LP’s holdings in Futurewave Acquisition were worth $694,000 as of its most recent filing with the SEC.

Futurewave Acquisition Company Profile

Futurewave Acquisition Corp. is a special purpose acquisition company (SPAC) formed to pursue a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses. Companies like Futurewave Acquisition are typically created to help identify and combine with an operating business, rather than to run a traditional commercial operation themselves.

As a blank check company, Futurewave Acquisition does not provide a broad portfolio of products or services in the conventional sense.