Cayson Acquisition (NASDAQ:CAPN) Stock Price Up 0.7% – Still a Buy?

Cayson Acquisition Corp (NASDAQ:CAPN) shot up 0.7% during mid-day trading on Monday . The company traded as high as $11.10 and last traded at $11.1730. 24,914 shares were traded during mid-day trading, an increase of 1,284% from the average session volume of 1,801 shares. The stock had previously closed at $11.10.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Cayson Acquisition from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Cayson Acquisition presently has a consensus rating of “Sell”.

Cayson Acquisition Stock Performance

The stock’s 50 day simple moving average is $11.09 and its 200-day simple moving average is $10.96.

Cayson Acquisition (NASDAQ:CAPN) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.03 EPS for the quarter.

Hedge Funds Weigh In On Cayson Acquisition

Several institutional investors have recently modified their holdings of CAPN. Whitebox Advisors LLC purchased a new position in shares of Cayson Acquisition in the 2nd quarter valued at about $1,290,000. Karpus Management Inc. grew its position in shares of Cayson Acquisition by 10.6% during the second quarter. Karpus Management Inc. now owns 292,508 shares of the company’s stock worth $3,007,000 after buying an additional 28,102 shares in the last quarter. Radcliffe Capital Management L.P. purchased a new stake in shares of Cayson Acquisition during the second quarter worth approximately $280,000. Quarry LP purchased a new stake in shares of Cayson Acquisition during the third quarter worth approximately $152,000. Finally, Crossingbridge Advisors LLC purchased a new stake in shares of Cayson Acquisition during the fourth quarter worth approximately $92,000.

About Cayson Acquisition

Cayson Acquisition Corp. is a Cayman Islands–incorporated blank check company formed in early 2021 to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The company completed its initial public offering in March 2021 and is listed on the Nasdaq under the ticker symbol CAPN. As a special purpose acquisition company, Cayson Acquisition currently holds its capital in a trust account pending the execution of a qualifying transaction.

The company’s management team is focused on identifying high-growth opportunities across a range of industries, including technology, healthcare, consumer products and business services.