Short Interest in NewHold Investment Corp III (NASDAQ:NHIC) Drops By 67.7%

NewHold Investment Corp III (NASDAQ:NHIC) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 2,362 shares, a decrease of 67.7% from the April 30th total of 7,321 shares. Based on an average daily volume of 6,672 shares, the short-interest ratio is currently 0.4 days. Approximately 0.0% of the shares of the company are sold short.

NewHold Investment Corp III Trading Up 1.6%

NewHold Investment Corp III stock traded up $0.18 during trading on Friday, reaching $11.30. The company had a trading volume of 559,876 shares, compared to its average volume of 272,999. NewHold Investment Corp III has a 52 week low of $10.03 and a 52 week high of $11.55. The firm’s 50-day simple moving average is $10.49 and its 200 day simple moving average is $10.42. The firm has a market capitalization of $311.99 million, a price-to-earnings ratio of 94.17 and a beta of 0.21.

NewHold Investment Corp III (NASDAQ:NHIC) last announced its earnings results on Monday, May 18th. The company reported $0.03 EPS for the quarter. The company had revenue of $3.71 million during the quarter.

Institutional Investors Weigh In On NewHold Investment Corp III

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NHIC. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new stake in NewHold Investment Corp III during the 2nd quarter worth approximately $9,950,000. Hudson Bay Capital Management LP bought a new stake in NewHold Investment Corp III during the second quarter valued at about $8,922,000. Meteora Capital LLC bought a new stake in NewHold Investment Corp III during the fourth quarter valued at about $4,915,000. Kryger Capital LLC bought a new stake in NewHold Investment Corp III during the first quarter valued at about $4,175,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in NewHold Investment Corp III during the fourth quarter valued at about $4,146,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of NewHold Investment Corp III from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

NewHold Investment Corp III Company Profile

NewHold Investment Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination, with one or more target businesses. The company was formerly known as NewHold Industrial Corp. and changed its name to NewHold Investment Corp. in February 2020. NewHold Investment Corp. was incorporated in 2020 and is based in Houston, Texas.