GP-Act III Acquisition Corp. (NASDAQ:GPAT) Shares Shorted: Short Interest Up 269.2% in October

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 5,242 shares, an increase of 269.2% from the September 30th total of 1,420 shares. Based on an average daily trading volume, of 572 shares, the days-to-cover ratio is currently 9.2 days.

GP-Act III Acquisition Stock Performance

Shares of NASDAQ:GPAT traded up $0.03 during mid-day trading on Thursday, hitting $11.07. The company had a trading volume of 27,473 shares, compared to its average volume of 108,297. GP-Act III Acquisition has a one year low of $10.57 and a one year high of $12.00. The firm has a fifty day moving average price of $11.08 and a 200 day moving average price of $10.93.

GP-Act III Acquisition (NASDAQ:GPAT) last released its quarterly earnings results on Friday, August 14th. The company reported $0.01 earnings per share for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of GP-Act III Acquisition from a “sell (d)” rating to a “hold (c-)” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On GP-Act III Acquisition

Several institutional investors and hedge funds have recently added to or reduced their stakes in GPAT. Berkley W R Corp lifted its stake in shares of GP-Act III Acquisition by 171.2% during the 1st quarter. Berkley W R Corp now owns 846,823 shares of the company’s stock valued at $9,180,000 after buying an additional 534,533 shares in the last quarter. Sona Asset Management US LLC purchased a new position in GP-Act III Acquisition in the 1st quarter worth approximately $2,168,000. Finally, Citadel Advisors LLC raised its position in shares of GP-Act III Acquisition by 16.7% during the second quarter. Citadel Advisors LLC now owns 20,039 shares of the company’s stock valued at $218,000 after buying an additional 2,867 shares during the last quarter.

About GP-Act III Acquisition

GP-Act III Acquisition Corp. is a special purpose acquisition company (SPAC) listed on the Nasdaq Stock Market under the symbol GPAT. The company was formed to identify and complete a business combination with an operating company.

Rather than offering products or services of its own, GP-Act III Acquisition focuses on evaluating potential merger, acquisition, stock purchase, reorganization, or similar transactions. Its future business activities will depend on the company or business it ultimately combines with.

Publicly available information about GP-Act III Acquisition’s target industry, geographic focus, and leadership is limited.