Launch One Acquisition Corp. (NASDAQ:LPAA) Sees Large Increase in Short Interest
by Kim Johansen · The Markets DailyLaunch One Acquisition Corp. (NASDAQ:LPAA – Get Free Report) was the target of a large growth in short interest in February. As of February 27th, there was short interest totaling 1,805 shares, a growth of 57.2% from the February 12th total of 1,148 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 1,726 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily volume of 1,726 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.0% of the shares of the stock are sold short.
Analysts Set New Price Targets
Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Launch One Acquisition in a research note on Friday, January 9th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.
Read Our Latest Research Report on LPAA
Hedge Funds Weigh In On Launch One Acquisition
Institutional investors have recently modified their holdings of the stock. Wolverine Asset Management LLC grew its stake in shares of Launch One Acquisition by 22.2% during the third quarter. Wolverine Asset Management LLC now owns 699,179 shares of the company’s stock valued at $7,341,000 after purchasing an additional 126,869 shares during the last quarter. Alberta Investment Management Corp bought a new position in Launch One Acquisition in the second quarter valued at about $7,811,000. Meteora Capital LLC lifted its position in Launch One Acquisition by 793.5% during the 2nd quarter. Meteora Capital LLC now owns 1,000,243 shares of the company’s stock valued at $10,418,000 after purchasing an additional 888,298 shares during the period. Magnetar Financial LLC bought a new stake in shares of Launch One Acquisition during the second quarter worth approximately $20,308,000. Finally, Berkley W R Corp raised its stake in shares of Launch One Acquisition by 1.7% during the second quarter. Berkley W R Corp now owns 316,201 shares of the company’s stock worth $3,293,000 after buying an additional 5,171 shares during the last quarter.
Launch One Acquisition Stock Performance
Shares of NASDAQ:LPAA traded down $0.01 during midday trading on Friday, reaching $10.71. The company’s stock had a trading volume of 112 shares, compared to its average volume of 1,818. The business’s fifty day simple moving average is $10.65 and its 200-day simple moving average is $10.57. Launch One Acquisition has a fifty-two week low of $10.17 and a fifty-two week high of $10.74.
Launch One Acquisition Company Profile
Launch One Acquisition Corp is a blank check company incorporated in Delaware. Its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Shares and warrants of the company trade on the Nasdaq Global Market under the ticker symbols “LPAA” and “LPAAW.”
The company completed its initial public offering in 2021, raising gross proceeds through the sale of units, each consisting of one share of common stock and one quarter of a warrant.