Short Interest in GP-Act III Acquisition Corp. (NASDAQ:GPAT) Decreases By 42.9%

GP-Act III Acquisition Corp. (NASDAQ:GPAT) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totaling 856 shares, a decrease of 42.9% from the April 30th total of 1,499 shares. Based on an average daily volume of 293,578 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GP-Act III Acquisition in a research note on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Westchester Capital Management LLC boosted its holdings in GP-Act III Acquisition by 22.5% in the 4th quarter. Westchester Capital Management LLC now owns 1,360,852 shares of the company’s stock worth $14,561,000 after buying an additional 250,000 shares during the period. Berkley W R Corp boosted its holdings in GP-Act III Acquisition by 171.2% in the 1st quarter. Berkley W R Corp now owns 846,823 shares of the company’s stock worth $9,180,000 after buying an additional 534,533 shares during the period. Linden Advisors LP bought a new position in GP-Act III Acquisition in the 3rd quarter worth $8,454,000. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in GP-Act III Acquisition in the 2nd quarter worth $7,800,000. Finally, Radcliffe Capital Management L.P. boosted its holdings in shares of GP-Act III Acquisition by 287.8% during the 3rd quarter. Radcliffe Capital Management L.P. now owns 572,895 shares of the company’s stock valued at $6,073,000 after purchasing an additional 425,152 shares during the last quarter.

GP-Act III Acquisition Trading Up 1.6%

GP-Act III Acquisition stock traded up $0.18 during mid-day trading on Thursday, hitting $11.07. The stock had a trading volume of 135 shares, compared to its average volume of 141,422. The firm’s 50 day moving average is $10.85 and its 200 day moving average is $10.77. GP-Act III Acquisition has a one year low of $10.42 and a one year high of $11.21.

GP-Act III Acquisition (NASDAQ:GPAT) last issued its earnings results on Thursday, May 14th. The company reported $0.06 earnings per share for the quarter.

GP-Act III Acquisition Company Profile

GP-Act III Acquisition Corp is a special purpose acquisition company organized as a Delaware corporation that completed its initial public offering in 2021. As a blank-check company, it has no commercial operations of its own and was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

The company’s primary business activity is to identify and acquire a target company in sectors such as technology, business services, healthcare or other high-growth industries.