Lafayette Acquisition (NASDAQ:LAFA) Trading 0.3% Higher – Should You Buy?

Lafayette Acquisition Corp. (NASDAQ:LAFA) shares traded up 0.3% during mid-day trading on Monday . The stock traded as high as $10.16 and last traded at $10.1860. Approximately 36,063 shares changed hands during trading, an increase of 1,327% from the average session volume of 2,527 shares. The stock had previously closed at $10.16.

Wall Street Analysts Forecast Growth

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

Lafayette Acquisition Trading Up 0.1%

The company’s fifty day simple moving average is $10.13 and its 200-day simple moving average is $10.06.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LAFA. Clear Street Group Inc. purchased a new stake in shares of Lafayette Acquisition during the fourth quarter valued at $1,273,000. Radcliffe Capital Management L.P. acquired a new position in Lafayette Acquisition in the 4th quarter worth approximately $1,980,000. 683 Capital Management LLC purchased a new position in Lafayette Acquisition during the 4th quarter worth approximately $2,475,000. Rivernorth Capital Management LLC purchased a new position in Lafayette Acquisition during the 1st quarter worth approximately $2,991,000. Finally, Lineage Point Capital LP acquired a new stake in Lafayette Acquisition during the 4th quarter valued at approximately $3,076,000.

About Lafayette Acquisition

Lafayette Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more operating companies. Its potential transactions may include a merger, stock exchange, asset acquisition, stock purchase, reorganization or similar combination.

As a SPAC, Lafayette Acquisition Corp. does not have significant operating products or services of its own. Instead, its activities center on evaluating prospective target businesses, conducting due diligence and seeking shareholder approval for a transaction.