Lafayette Acquisition (NASDAQ:LAFA) Trading 0.2% Higher – Here’s What Happened

Shares of Lafayette Acquisition Corp. (NASDAQ:LAFA) were up 0.2% on Friday . The company traded as high as $10.15 and last traded at $10.15. 5,041 shares changed hands during mid-day trading, an increase of 0% from the average session volume of 5,020 shares. The stock had previously closed at $10.13.

Analyst Ratings Changes

Separately, Weiss Ratings raised Lafayette Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Lafayette Acquisition Trading Up 0.2%

The business has a fifty day moving average of $10.11.

Lafayette Acquisition (NASDAQ:LAFA) last issued its earnings results on Thursday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Lafayette Acquisition

Several large investors have recently bought and sold shares of the stock. Rivernorth Capital Management LLC purchased a new position in shares of Lafayette Acquisition during the first quarter worth about $2,991,000. Sona Asset Management US LLC purchased a new stake in shares of Lafayette Acquisition in the 1st quarter valued at about $3,490,000. Lineage Point Capital LP purchased a new stake in shares of Lafayette Acquisition in the 4th quarter valued at about $3,076,000. Radcliffe Capital Management L.P. acquired a new stake in shares of Lafayette Acquisition in the 4th quarter valued at about $1,980,000. Finally, Aristeia Capital L.L.C. acquired a new stake in shares of Lafayette Acquisition in the 4th quarter valued at about $3,960,000.

Lafayette Acquisition Company Profile

Lafayette Acquisition Corp. (NASDAQ: LAFA) is a special purpose acquisition company (SPAC) formed to identify, acquire, or merge with one or more operating businesses. As a blank‑check vehicle, its primary business activity is sourcing and completing a business combination that would result in a privately held company becoming publicly traded through the SPAC structure.

The company raises capital from public market investors and typically holds the IPO proceeds in trust while its management and sponsors evaluate potential targets.