Eureka Acquisition Corp. (NASDAQ:EURK) Sees Significant Growth in Short Interest

Eureka Acquisition Corp. (NASDAQ:EURK) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 390 shares, a growth of 242.1% from the September 15th total of 114 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 2,361 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Eureka Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. One analyst has rated the stock with a Sell rating. According to MarketBeat, the company has a consensus rating of “Sell”.

Eureka Acquisition Price Performance

Shares of NASDAQ:EURK traded up $0.03 on Friday, reaching $11.53. The company had a trading volume of 5,570 shares, compared to its average volume of 11,993. Eureka Acquisition has a twelve month low of $10.71 and a twelve month high of $14.28. The stock has a 50-day moving average price of $11.62 and a 200 day moving average price of $11.55.

Eureka Acquisition (NASDAQ:EURK) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.12 EPS for the quarter.

Hedge Funds Weigh In On Eureka Acquisition

Institutional investors have recently modified their holdings of the company. Polar Asset Management Partners Inc. lifted its position in shares of Eureka Acquisition by 193.0% during the 1st quarter. Polar Asset Management Partners Inc. now owns 167,000 shares of the company’s stock worth $1,894,000 after purchasing an additional 110,000 shares during the last quarter. Berkley W R Corp increased its position in Eureka Acquisition by 3.2% in the 1st quarter. Berkley W R Corp now owns 315,488 shares of the company’s stock worth $3,578,000 after buying an additional 9,860 shares during the period. Finally, Clear Street Group Inc. lifted its holdings in shares of Eureka Acquisition by 35.4% during the fourth quarter. Clear Street Group Inc. now owns 92,366 shares of the company’s stock worth $1,009,000 after buying an additional 24,135 shares during the last quarter.

About Eureka Acquisition

Eureka Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Its potential transactions may include a merger, share exchange, asset acquisition, share purchase, recapitalization or reorganization.

Unlike an operating company, Eureka Acquisition Corp. does not have a portfolio of products or services of its own. Its principal activity is evaluating potential acquisition targets and pursuing a transaction intended to create a publicly traded operating business.

The company was established as a blank-check company and has been listed on the Nasdaq Capital Market under the symbol EURK.