Starboard Value Acquisition Corp. (NASDAQ:SVAC) Sees Significant Increase in Short Interest

Starboard Value Acquisition Corp. (NASDAQ:SVAC) was the recipient of a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 105,327 shares, a growth of 287.3% from the June 15th total of 27,197 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily volume of 1,252,082 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Starboard Value Acquisition has a consensus rating of “Sell”.

Starboard Value Acquisition Price Performance

Shares of Starboard Value Acquisition stock traded up $0.59 during midday trading on Monday, reaching $9.71. 147,504 shares of the company’s stock traded hands, compared to its average volume of 337,715. The stock has a 50 day moving average of $10.26 and a 200-day moving average of $10.33. Starboard Value Acquisition has a 12 month low of $7.35 and a 12 month high of $12.00.

Starboard Value Acquisition (NASDAQ:SVAC) last released its earnings results on Thursday, May 14th. The company reported ($13.80) EPS for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SVAC. Clear Street Group Inc. purchased a new stake in Starboard Value Acquisition during the fourth quarter valued at $73,000. Virtu Financial LLC purchased a new position in Starboard Value Acquisition in the fourth quarter worth about $186,000. Cannon Global Investment Management LLC bought a new stake in shares of Starboard Value Acquisition during the 1st quarter valued at about $279,000. Readystate Asset Management LP purchased a new stake in shares of Starboard Value Acquisition during the 1st quarter valued at about $311,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Starboard Value Acquisition during the 4th quarter valued at about $445,000.

About Starboard Value Acquisition

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.