KRAKacquisition Corp (NASDAQ:KRAQ) Sees Large Growth in Short Interest

KRAKacquisition Corp (NASDAQ:KRAQ) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 13,031 shares, an increase of 1,134.0% from the August 31st total of 1,056 shares. Based on an average trading volume of 30,377 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised KRAKacquisition from a “sell (e)” rating to a “sell (e+)” rating in a research note on Tuesday, September 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

KRAKacquisition Trading Up 0.0%

Shares of KRAQ traded up $0.01 during midday trading on Friday, hitting $10.03. The stock had a trading volume of 1,952 shares, compared to its average volume of 53,601. KRAKacquisition has a fifty-two week low of $9.78 and a fifty-two week high of $10.44. The stock’s 50-day moving average price is $10.01. The company has a market capitalization of $375.94 million and a price-to-earnings ratio of 143.21.

About KRAKacquisition

KRAKacquisition Corp. is a special purpose acquisition company, or SPAC, listed on the Nasdaq under the symbol KRAQ. The company was formed to pursue a business combination, such as a merger, acquisition, stock purchase, or similar transaction, with one or more operating businesses.

Unlike an operating company, KRAKacquisition does not currently appear to offer products or services of its own. Its principal activity is identifying and completing a transaction with a target company, after which the combined business may operate as a publicly traded company.

Specific information about KRAKacquisition’s target industry, geographic focus, completed transactions, and leadership is limited in publicly available sources.