Fifth Era Acquisition Corp I (NASDAQ:FERA) Sees Significant Decline in Short Interest

Fifth Era Acquisition Corp I (NASDAQ:FERA) saw a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 926 shares, a drop of 71.1% from the June 30th total of 3,200 shares. Based on an average trading volume of 69,765 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the shares of the company are short sold.

Hedge Funds Weigh In On Fifth Era Acquisition Corp I

A number of large investors have recently modified their holdings of FERA. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Fifth Era Acquisition Corp I in the fourth quarter valued at approximately $4,116,000. Glazer Capital LLC grew its holdings in Fifth Era Acquisition Corp I by 31.8% during the fourth quarter. Glazer Capital LLC now owns 904,922 shares of the company’s stock worth $9,312,000 after acquiring an additional 218,282 shares during the period. Radcliffe Capital Management L.P. raised its position in Fifth Era Acquisition Corp I by 22.8% in the fourth quarter. Radcliffe Capital Management L.P. now owns 404,403 shares of the company’s stock worth $4,161,000 after acquiring an additional 75,201 shares in the last quarter. PenderFund Capital Management Ltd. acquired a new stake in Fifth Era Acquisition Corp I in the fourth quarter valued at $104,000. Finally, Rivernorth Capital Management LLC lifted its holdings in Fifth Era Acquisition Corp I by 34.4% in the fourth quarter. Rivernorth Capital Management LLC now owns 399,872 shares of the company’s stock valued at $4,115,000 after acquiring an additional 102,372 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Fifth Era Acquisition Corp I from a “sell (d-)” rating to a “sell (d)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Sell rating, According to MarketBeat, Fifth Era Acquisition Corp I currently has an average rating of “Sell”.

Fifth Era Acquisition Corp I Stock Performance

Shares of NASDAQ:FERA remained flat at $10.44 during midday trading on Monday. 356,446 shares of the stock traded hands, compared to its average volume of 83,992. The stock has a 50-day simple moving average of $10.41. Fifth Era Acquisition Corp I has a 1-year low of $10.13 and a 1-year high of $10.50.

Fifth Era Acquisition Corp I (NASDAQ:FERA) last posted its quarterly earnings results on Friday, May 15th. The company reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $2.09 million for the quarter.

Fifth Era Acquisition Corp I Company Profile

Fifth Era Acquisition Corp I (NASDAQ: FERA) is a special purpose acquisition company (SPAC) listed on the NASDAQ exchange. As a blank‑check vehicle, the company was formed to raise capital in public markets through an initial public offering and to identify, negotiate and complete a business combination with one or more operating companies. The primary business activity of Fifth Era Acquisition Corp I is to serve as an acquisition vehicle that facilitates the transition of a private company to the public markets through a merger, share exchange, asset acquisition or similar transaction.

Like other SPACs, Fifth Era Acquisition Corp I typically holds the proceeds from its public offering in a trust account pending the completion of a qualifying business combination.