Lafayette Acquisition Corp. (NASDAQ:LAFAR) Sees Significant Growth in Short Interest

Lafayette Acquisition Corp. (NASDAQ:LAFAR) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 2,414 shares, an increase of 59.4% from the September 15th total of 1,514 shares. Based on an average daily volume of 1,096 shares, the days-to-cover ratio is presently 2.2 days.

Lafayette Acquisition Stock Performance

LAFAR stock opened at $0.07 on Friday. Lafayette Acquisition has a twelve month low of $0.07 and a twelve month high of $0.30. The stock’s 50 day moving average is $0.08 and its 200-day moving average is $0.10.

Institutional Investors Weigh In On Lafayette Acquisition

An institutional investor recently bought a new stake in Lafayette Acquisition stock. Rivernorth Capital Management LLC acquired a new position in shares of Lafayette Acquisition Corp. (NASDAQ:LAFAR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 300,000 shares of the company’s stock, valued at approximately $36,000.

About Lafayette Acquisition

Lafayette Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. The transaction may take the form of a merger, acquisition, stock purchase, or similar arrangement.

As a blank-check company, Lafayette Acquisition Corp. does not operate a commercial business or offer products and services to customers. Its activities are focused primarily on evaluating potential acquisition targets and pursuing an initial business combination.

Publicly available information about the company’s target industry, geographic focus, operating history, and leadership is limited.