Pine Tree Acquisition Corp. (NASDAQ:PAXGU – Get Free Report) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totaling 2,003 shares, an increase of 189.9% from the October 15th total of 691 shares. Based on an average daily trading volume, of 35,603 shares, the short-interest ratio is currently 0.1 days.
Pine Tree Acquisition Trading Up 0.2%
Shares of PAXGU traded up $0.02 during midday trading on Friday, hitting $10.06. 2,131 shares of the company traded hands, compared to its average volume of 61,514. Pine Tree Acquisition has a one year low of $9.95 and a one year high of $10.40.
Analyst Ratings Changes
Separately, Wall Street Zen raised shares of Pine Tree Acquisition to a “sell” rating in a report on Saturday, October 10th.
Pine Tree Acquisition Company Profile
Pine Tree Acquisition Corp. is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating businesses. The company does not have significant operating activities of its own and was established to raise capital through an initial public offering for the purpose of pursuing a merger, acquisition, or similar transaction. Its publicly traded units, represented by the Nasdaq symbol PAXGU, generally consist of shares of common stock and accompanying warrants.
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