RRE Ventures Acquisition Corp.’s Lock-Up Period To End Tomorrow (NASDAQ:RREV)

RRE Ventures Acquisition’s (NASDAQ:RREV) lock-up period is set to end on Tuesday, October 27th. RRE Ventures Acquisition had issued 25,000,000 shares in its public offering on April 30th. The total size of the offering was $250,000,000 based on an initial share price of $10.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings began coverage on shares of RRE Ventures Acquisition in a research report on Tuesday, August 18th. They set a “sell (e)” rating on the stock. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

RRE Ventures Acquisition Price Performance

Shares of NASDAQ RREV opened at $9.90 on Monday. RRE Ventures Acquisition has a 12 month low of $9.86 and a 12 month high of $9.94. The business’s 50 day simple moving average is $9.92.

Hedge Funds Weigh In On RRE Ventures Acquisition

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Governors Lane LP bought a new position in shares of RRE Ventures Acquisition in the second quarter valued at about $2,468,000. Moore Capital Management LP acquired a new stake in shares of RRE Ventures Acquisition during the 2nd quarter worth about $2,468,000. Finally, Rivernorth Capital Management LLC bought a new stake in shares of RRE Ventures Acquisition during the 2nd quarter worth about $993,000.

RRE Ventures Acquisition Company Profile

RRE Ventures Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Its potential transaction could take the form of a merger, stock purchase, asset acquisition, reorganization or similar combination.

The company was established as an acquisition vehicle rather than an operating business. It does not manufacture products or provide services to customers, and its activities are primarily focused on evaluating potential target companies, negotiating a transaction and completing the related regulatory and shareholder approval processes.

RRE Ventures Acquisition Corp.