East West Ave Acquisition Corp. (NASDAQ:EWAVU) Sees Significant Drop in Short Interest

East West Ave Acquisition Corp. (NASDAQ:EWAVU) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 186 shares, a decrease of 79.9% from the September 30th total of 924 shares. Based on an average daily volume of 1,036 shares, the days-to-cover ratio is currently 0.2 days.

East West Ave Acquisition Stock Performance

Shares of NASDAQ:EWAVU opened at $10.03 on Tuesday. The firm has a 50-day moving average price of $10.03. East West Ave Acquisition has a fifty-two week low of $9.91 and a fifty-two week high of $10.40.

Insider Buying and Selling at East West Ave Acquisition

In related news, insider Space Summit Capital Llc sold 90,469 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $9.94, for a total value of $899,261.86. Following the sale, the insider owned 996,531 shares of the company’s stock, valued at approximately $9,905,518.14. This trade represents a 8.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analysts Set New Price Targets

Separately, Wall Street Zen raised East West Ave Acquisition to a “hold” rating in a research report on Saturday, August 15th.

East West Ave Acquisition Company Profile

We are a newly organized blank check company formed as a Nevada corporation for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Throughout this prospectus we will refer to this as our initial business combination. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, engaged in any substantive discussions, directly or indirectly, with any business combination target with respect to an initial business combination with us.