Eureka Acquisition Corp. (NASDAQ:EURK) Short Interest Up 59.3% in August

Eureka Acquisition Corp. (NASDAQ:EURK) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 462 shares, an increase of 59.3% from the August 15th total of 290 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily volume of 4,492 shares, the days-to-cover ratio is currently 0.1 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 report on Tuesday, July 28th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Eureka Acquisition Stock Performance

Shares of EURK stock traded down $0.19 on Thursday, hitting $11.30. 1,444 shares of the stock traded hands, compared to its average volume of 13,837. Eureka Acquisition has a 1-year low of $10.68 and a 1-year high of $14.28. The company’s fifty day moving average is $11.73 and its 200 day moving average is $11.51.

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

Hedge Funds Weigh In On Eureka Acquisition

A number of large investors have recently bought and sold shares of EURK. Polar Asset Management Partners Inc. raised 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 period. Berkley W R Corp boosted its position in Eureka Acquisition by 3.2% during the 1st quarter. Berkley W R Corp now owns 315,488 shares of the company’s stock valued at $3,578,000 after purchasing an additional 9,860 shares during the period. Finally, Clear Street Group Inc. grew its stake in Eureka Acquisition by 35.4% during the 4th 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 Co (NASDAQ: EURK) is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. As a blank‐check vehicle, the company raised capital through an initial public offering to pursue mergers, acquisitions or other business combinations. Eureka Acquisition does not engage in any operational business activities of its own and has not yet announced a definitive target or transaction.

The company’s charter provides a fixed time frame—typically 24 to 36 months—to identify and complete a qualifying business combination.