Short Interest in Lakeshore Acquisition III Corp. (NASDAQ:LCCC) Declines By 43.6%

Lakeshore Acquisition III Corp. (NASDAQ:LCCC) was the target of a significant decrease in short interest during the month of May. As of May 29th, there was short interest totaling 3,462 shares, a decrease of 43.6% from the May 14th total of 6,135 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 126,060 shares, the short-interest ratio is currently 0.0 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Lakeshore Acquisition III in a research report on Friday, May 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Lakeshore Acquisition III Stock Up 0.1%

LCCC traded up $0.01 on Monday, reaching $10.40. The company had a trading volume of 57,941 shares, compared to its average volume of 69,581. The firm has a fifty day moving average of $10.37. Lakeshore Acquisition III has a one year low of $10.00 and a one year high of $10.45.

Lakeshore Acquisition III (NASDAQ:LCCC) last announced its earnings results on Thursday, April 23rd. The company reported $0.08 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Lakeshore Acquisition III

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rivernorth Capital Management LLC boosted its position in shares of Lakeshore Acquisition III by 33.6% during the 4th quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock valued at $4,051,000 after purchasing an additional 100,000 shares in the last quarter. Berkley W R Corp boosted its position in shares of Lakeshore Acquisition III by 17.0% during the 4th quarter. Berkley W R Corp now owns 205,374 shares of the company’s stock valued at $2,093,000 after purchasing an additional 29,814 shares in the last quarter. Finally, Sona Asset Management US LLC bought a new position in shares of Lakeshore Acquisition III during the 1st quarter valued at about $1,030,000.

About Lakeshore Acquisition III

Lakeshore Acquisition III (NASDAQ: LCCC) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock exchange. As a blank‑check company, its primary business activity is to raise capital through an initial public offering and hold those proceeds in a trust while seeking a business combination, merger, asset acquisition or similar transaction that would bring a private operating company public through a reverse merger or other form of combination.

Prior to identifying and completing a qualifying business combination, Lakeshore Acquisition III does not operate traditional commercial businesses or offer products or services; instead, its operations are focused on target evaluation, due diligence, structuring potential transactions and managing the trust account and public‑company obligations.