Short Interest in NewHold Investment Corp III (NASDAQ:NHIC) Rises By 1,115.2%

NewHold Investment Corp III (NASDAQ:NHIC) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 28,702 shares, a growth of 1,115.2% from the May 14th total of 2,362 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 568,903 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in NewHold Investment Corp III during the fourth quarter valued at $4,146,000. Kryger Capital LLC bought a new stake in NewHold Investment Corp III during the first quarter valued at $4,175,000. Governors Lane LP boosted its stake in NewHold Investment Corp III by 1.7% during the fourth quarter. Governors Lane LP now owns 254,190 shares of the company’s stock valued at $2,635,000 after buying an additional 4,190 shares during the period. Radcliffe Capital Management L.P. boosted its position in shares of NewHold Investment Corp III by 13.7% during the 4th quarter. Radcliffe Capital Management L.P. now owns 560,971 shares of the company’s stock valued at $5,814,000 after acquiring an additional 67,767 shares during the last quarter. Finally, L1 Global Manager Pty Ltd bought a new stake in shares of NewHold Investment Corp III during the 4th quarter valued at about $1,555,000.

NewHold Investment Corp III Trading Down 0.4%

Shares of NHIC stock traded down $0.05 on Tuesday, hitting $11.09. 28,072 shares of the stock were exchanged, compared to its average volume of 355,975. The firm has a market capitalization of $306.19 million, a PE ratio of 92.42 and a beta of 0.21. NewHold Investment Corp III has a one year low of $10.13 and a one year high of $11.60. The firm’s 50 day moving average is $10.61 and its two-hundred day moving average is $10.47.

NewHold Investment Corp III (NASDAQ:NHIC) last issued 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.

Wall Street Analysts Forecast Growth

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

About NewHold Investment Corp III

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.