Starboard Value Acquisition Corp. (NASDAQ:SVAC) Sees Significant Increase in Short Interest

Starboard Value Acquisition Corp. (NASDAQ:SVAC) saw a large growth in short interest in June. As of June 30th, there was short interest totaling 105,327 shares, a growth of 287.3% from the June 15th total of 27,197 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average trading volume of 1,252,082 shares, the days-to-cover ratio is currently 0.1 days.

Starboard Value Acquisition Trading Up 6.5%

Shares of Starboard Value Acquisition stock traded up $0.59 during trading hours on Monday, reaching $9.71. 147,504 shares of the company’s stock were exchanged, compared to its average volume of 337,715. The company has a 50 day moving average of $10.26 and a two-hundred day moving average of $10.33. Starboard Value Acquisition has a fifty-two week low of $7.35 and a fifty-two week high of $12.00.

Starboard Value Acquisition (NASDAQ:SVAC) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($13.80) earnings per share for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Starboard Value Acquisition presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SVAC. Clear Street Group Inc. bought a new stake in shares of Starboard Value Acquisition during the 4th quarter worth approximately $73,000. Virtu Financial LLC bought a new position in shares of Starboard Value Acquisition in the fourth quarter valued at $186,000. Cannon Global Investment Management LLC bought a new position in shares of Starboard Value Acquisition in the first quarter valued at $279,000. Readystate Asset Management LP acquired a new position in Starboard Value Acquisition during the first quarter worth $311,000. Finally, Boothbay Fund Management LLC acquired a new position in Starboard Value Acquisition during the fourth quarter worth $445,000.

About Starboard Value Acquisition

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.