KRAKacquisition Corp (NASDAQ:KRAQ) Sees Significant Increase in Short Interest

KRAKacquisition Corp (NASDAQ:KRAQ) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,056 shares, a growth of 58.8% from the August 15th total of 665 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily volume of 41,287 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of KRAKacquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, September 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

KRAKacquisition Stock Performance

Shares of KRAQ opened at $10.02 on Friday. The firm has a market cap of $375.75 million and a price-to-earnings ratio of 143.14. The firm has a 50 day simple moving average of $10.01. KRAKacquisition has a 52-week low of $9.78 and a 52-week high of $10.44.

KRAKacquisition Company Profile

KRAKacquisition Corp. is a special purpose acquisition company, or SPAC, listed on the Nasdaq under the symbol KRAQ. The company was formed to pursue a business combination, such as a merger, acquisition, stock purchase, or similar transaction, with one or more operating businesses.

Unlike an operating company, KRAKacquisition does not currently appear to offer products or services of its own. Its principal activity is identifying and completing a transaction with a target company, after which the combined business may operate as a publicly traded company.

Specific information about KRAKacquisition’s target industry, geographic focus, completed transactions, and leadership is limited in publicly available sources.