Emmis Acquisition Corp. (NASDAQ:EMIS) Sees Significant Decrease in Short Interest

Emmis Acquisition Corp. (NASDAQ:EMIS) was the recipient of a significant decline in short interest in the month of July. As of July 31st, there was short interest totaling 4,887 shares, a decline of 44.0% from the July 15th total of 8,734 shares. Based on an average trading volume of 3,204 shares, the short-interest ratio is currently 1.5 days.

Institutional Trading of Emmis Acquisition

Hedge funds have recently modified their holdings of the stock. Virtu Financial LLC acquired a new position in Emmis Acquisition in the 4th quarter valued at about $178,000. Polar Asset Management Partners Inc. bought a new stake in shares of Emmis Acquisition during the fourth quarter worth approximately $249,000. ABC Arbitrage SA acquired a new position in shares of Emmis Acquisition in the fourth quarter valued at approximately $398,000. Boothbay Fund Management LLC acquired a new position in shares of Emmis Acquisition in the fourth quarter valued at approximately $418,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Emmis Acquisition during the fourth quarter worth approximately $597,000.

Emmis Acquisition Stock Up 0.2%

NASDAQ:EMIS opened at $10.23 on Wednesday. Emmis Acquisition has a twelve month low of $9.90 and a twelve month high of $10.22. The stock’s 50 day moving average price is $10.18 and its two-hundred day moving average price is $10.11.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Emmis Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. 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”.

Emmis Acquisition Company Profile

We are a blank check company incorporated as a Cayman Islands exempted company whose business purpose is to effect a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus 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.