Emmis Acquisition (NASDAQ:EMIS) Stock Jumps 0.2% – Here’s What Happened

Emmis Acquisition Corp. (NASDAQ:EMIS) shares shot up 0.2% on Thursday. The stock traded as high as $10.27 and last traded at $10.29. 34,195 shares were traded during mid-day trading, The stock had previously closed at $10.27.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Emmis Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Emmis Acquisition presently has an average rating of “Sell”.

Emmis Acquisition Stock Performance

The business’s 50-day simple moving average is $10.24 and its two-hundred day simple moving average is $10.16.

Emmis Acquisition (NASDAQ:EMIS) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.05 earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mangrove Partners IM LLC acquired a new stake in shares of Emmis Acquisition in the fourth quarter valued at about $4,975,000. Yakira Capital Management Inc. acquired a new position in Emmis Acquisition during the 4th quarter worth approximately $1,251,000. Mint Tower Capital Management B.V. acquired a new position in Emmis Acquisition during the 4th quarter worth approximately $4,975,000. Lineage Point Capital LP purchased a new position in Emmis Acquisition in the 4th quarter worth approximately $2,243,000. Finally, Sona Asset Management US LLC acquired a new stake in Emmis Acquisition in the first quarter valued at approximately $1,005,000.

Emmis Acquisition Company Profile

Emmis Acquisition Corp. is a special purpose acquisition company (SPAC) organized to identify and complete a business combination, such as a merger, acquisition, or similar transaction, with one or more operating businesses.

Unlike an operating company, Emmis Acquisition Corp. does not appear to have established products, services, or geographic markets of its own. Its activities are focused primarily on evaluating potential acquisition opportunities and completing a transaction that would result in a combined operating company.

Publicly available information about the company’s specific target, operating history, and leadership is limited.