Eureka Acquisition Corp. (NASDAQ:EURK) Stock Short Interest Climbs 242.1%

Eureka Acquisition Corp. (NASDAQ:EURK) was the target of a large growth in short interest in September. As of September 30th, there was short interest totaling 390 shares, a growth of 242.1% from the September 15th total of 114 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 2,361 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Eureka Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, Eureka Acquisition has a consensus rating of “Sell”.

Eureka Acquisition Stock Performance

Shares of EURK stock traded up $0.03 on Tuesday, hitting $11.53. The stock had a trading volume of 270 shares, compared to its average volume of 7,987. The business has a 50 day moving average price of $11.61 and a 200 day moving average price of $11.55. Eureka Acquisition has a one year low of $10.74 and a one year high of $14.28.

Eureka Acquisition (NASDAQ:EURK) last issued its earnings results on Thursday, July 23rd. The company reported $0.12 earnings per share (EPS) for the quarter.

Institutional Trading of Eureka Acquisition

A number of hedge funds have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. lifted its stake in shares of Eureka Acquisition by 193.0% during the 1st quarter. Polar Asset Management Partners Inc. now owns 167,000 shares of the company’s stock worth $1,894,000 after purchasing an additional 110,000 shares during the last quarter. Berkley W R Corp grew its stake in Eureka Acquisition by 3.2% in the first quarter. Berkley W R Corp now owns 315,488 shares of the company’s stock valued at $3,578,000 after purchasing an additional 9,860 shares during the last quarter. Finally, Clear Street Group Inc. grew its stake in Eureka Acquisition by 35.4% in the fourth quarter. Clear Street Group Inc. now owns 92,366 shares of the company’s stock valued at $1,009,000 after purchasing an additional 24,135 shares during the last quarter.

About Eureka Acquisition

Eureka Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Its potential transactions may include a merger, share exchange, asset acquisition, share purchase, recapitalization or reorganization.

Unlike an operating company, Eureka Acquisition Corp. does not have a portfolio of products or services of its own. Its principal activity is evaluating potential acquisition targets and pursuing a transaction intended to create a publicly traded operating business.

The company was established as a blank-check company and has been listed on the Nasdaq Capital Market under the symbol EURK.