GP-Act III Acquisition (NASDAQ:GPAT) Announces Earnings Results

GP-Act III Acquisition (NASDAQ:GPAT) posted its earnings results on Friday. The company reported $0.01 earnings per share for the quarter, FiscalAI reports.

GP-Act III Acquisition Price Performance

GPAT traded down $0.12 on Friday, reaching $11.04. The company had a trading volume of 734 shares, compared to its average volume of 128,407. GP-Act III Acquisition has a 1 year low of $10.50 and a 1 year high of $12.00. The stock has a 50-day moving average price of $11.01 and a 200-day moving average price of $10.88.

Institutional Investors Weigh In On GP-Act III Acquisition

Large investors have recently modified their holdings of the company. Verition Fund Management LLC lifted its holdings in shares of GP-Act III Acquisition by 0.7% during the fourth quarter. Verition Fund Management LLC now owns 229,124 shares of the company’s stock worth $2,452,000 after purchasing an additional 1,500 shares during the period. Cannon Global Investment Management LLC increased its stake in GP-Act III Acquisition by 15.2% in the 1st quarter. Cannon Global Investment Management LLC now owns 16,700 shares of the company’s stock valued at $181,000 after buying an additional 2,200 shares during the period. Bank of America Corp DE purchased a new position in GP-Act III Acquisition during the 3rd quarter worth $85,000. Berkley W R Corp raised its position in GP-Act III Acquisition by 4.8% during the 4th quarter. Berkley W R Corp now owns 312,290 shares of the company’s stock worth $3,338,000 after buying an additional 14,298 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of GP-Act III Acquisition in the 3rd quarter worth $203,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of GP-Act III Acquisition in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

About GP-Act III Acquisition

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.