Launch One Acquisition Corp. (NASDAQ:LPAA) Short Interest Up 637.0% in July

Launch One Acquisition Corp. (NASDAQ:LPAA) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 4,894 shares, an increase of 637.0% from the July 15th total of 664 shares. Based on an average daily volume of 24,392 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the shares of the stock are sold short.

Launch One Acquisition Stock Performance

LPAA traded up $0.03 during midday trading on Thursday, hitting $10.78. 861 shares of the company traded hands, compared to its average volume of 23,263. The business has a 50 day simple moving average of $10.86 and a two-hundred day simple moving average of $10.77. Launch One Acquisition has a 52-week low of $10.42 and a 52-week high of $11.67.

Launch One Acquisition (NASDAQ:LPAA) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.06 earnings per share for the quarter. The company had revenue of $2.17 million for the quarter.

Hedge Funds Weigh In On Launch One Acquisition

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Crossingbridge Advisors LLC purchased a new stake in shares of Launch One Acquisition during the fourth quarter worth approximately $878,000. Quarry LP grew its holdings in shares of Launch One Acquisition by 200.0% during the third quarter. Quarry LP now owns 150,000 shares of the company’s stock worth $1,575,000 after buying an additional 100,000 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Launch One Acquisition by 68.9% during the fourth quarter. Toronto Dominion Bank now owns 244,904 shares of the company’s stock worth $2,594,000 after buying an additional 99,904 shares in the last quarter. Shaolin Capital Management LLC acquired a new stake in shares of Launch One Acquisition in the second quarter valued at about $3,645,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. raised its position in shares of Launch One Acquisition by 87.5% in the second quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 750,000 shares of the company’s stock valued at $7,811,000 after buying an additional 350,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Launch One Acquisition in a report on Monday, June 29th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

About Launch One Acquisition

Launch One Acquisition Corp is a blank check company incorporated in Delaware. Its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Shares and warrants of the company trade on the Nasdaq Global Market under the ticker symbols “LPAA” and “LPAAW.”

The company completed its initial public offering in 2021, raising gross proceeds through the sale of units, each consisting of one share of common stock and one quarter of a warrant.