Lake Superior Acquisition Corp (NASDAQ:LKSP) Sees Large Drop in Short Interest

Lake Superior Acquisition Corp (NASDAQ:LKSP) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 3,933 shares, a drop of 51.5% from the July 15th total of 8,102 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 15,520 shares, the short-interest ratio is currently 0.3 days.

Lake Superior Acquisition Trading Down 0.1%

LKSP traded down $0.01 during trading on Tuesday, reaching $10.18. 381,066 shares of the company’s stock were exchanged, compared to its average volume of 14,956. Lake Superior Acquisition has a 1 year low of $9.89 and a 1 year high of $10.20. The stock has a fifty day moving average of $10.16.

Lake Superior Acquisition (NASDAQ:LKSP) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.05 EPS for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Lake Superior Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Lake Superior Acquisition

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LKSP. Rivernorth Capital Management LLC acquired a new position in shares of Lake Superior Acquisition in the 1st quarter valued at about $3,015,000. Sona Asset Management US LLC acquired a new stake in Lake Superior Acquisition during the first quarter worth about $892,000. TrueMark Investments LLC purchased a new position in Lake Superior Acquisition during the first quarter valued at approximately $363,000. Lineage Point Capital LP acquired a new position in Lake Superior Acquisition in the fourth quarter valued at approximately $1,984,000. Finally, Virtu Financial LLC acquired a new position in Lake Superior Acquisition in the fourth quarter valued at approximately $359,000.

About Lake Superior Acquisition

Lake Superior Acquisition Corp. (NASDAQ: LKSP) is a special purpose acquisition company (SPAC) formed to identify, acquire or merge with one or more businesses. As a blank‑check vehicle, its principal purpose is to raise capital in the public markets and use those proceeds, typically held in trust, to complete a business combination that delivers an operating company to public investors.

The company’s primary activities center on sourcing, negotiating and consummating an initial business combination.