EGH Acquisition Corp. (NASDAQ:EGHA) Short Interest Up 291.3% in August

EGH Acquisition Corp. (NASDAQ:EGHA) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 1,119 shares, an increase of 291.3% from the August 15th total of 286 shares. Based on an average daily volume of 43,952 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

Institutional Investors Weigh In On EGH Acquisition

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Citadel Advisors LLC acquired a new position in shares of EGH Acquisition in the second quarter valued at about $202,000. DLD Asset Management LP acquired a new position in EGH Acquisition during the first quarter valued at approximately $347,000. Radcliffe Capital Management L.P. raised its holdings in shares of EGH Acquisition by 9.1% during the 4th quarter. Radcliffe Capital Management L.P. now owns 522,737 shares of the company’s stock worth $5,295,000 after buying an additional 43,765 shares in the last quarter. Lineage Point Capital LP bought a new stake in shares of EGH Acquisition during the 4th quarter worth $465,000. Finally, Periscope Capital Inc. lifted its holdings in shares of EGH Acquisition by 26.6% in the fourth quarter. Periscope Capital Inc. now owns 253,146 shares of the company’s stock worth $2,564,000 after acquiring an additional 53,146 shares during the last quarter.

EGH Acquisition Stock Performance

EGHA opened at $10.46 on Friday. EGH Acquisition has a 1-year low of $9.31 and a 1-year high of $10.80. The stock’s fifty day simple moving average is $10.36 and its 200 day simple moving average is $10.30.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of EGH Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

About EGH Acquisition

EGH Acquisition (NASDAQ: EGHA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and combine with one or more businesses. As a blank‑check vehicle, the company’s primary business activity is to raise capital through an initial public offering and to seek qualifying target companies for a business combination that would result in the target becoming a publicly listed entity.

Like other SPACs, EGH Acquisition typically holds the proceeds of its offering in trust while it evaluates potential targets and transaction structures.