Cantor Equity Partners (NASDAQ:CEP) Stock Price Down 6.6% – Here’s Why

Shares of Cantor Equity Partners, Inc. (NASDAQ:CEP) were down 6.6% on Wednesday . The stock traded as low as $18.80 and last traded at $19.22. Approximately 250,505 shares changed hands during trading, an increase of 24% from the average daily volume of 202,083 shares. The stock had previously closed at $20.57.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Cantor Equity Partners in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Cantor Equity Partners Price Performance

The company has a market cap of $246.02 million, a P/E ratio of 192.20 and a beta of -5.51. The stock has a 50-day moving average of $21.48 and a 200 day moving average of $28.05.

Cantor Equity Partners (NASDAQ:CEP) last issued its quarterly earnings results on Wednesday, August 13th. The company reported $0.04 EPS for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its position in Cantor Equity Partners by 83.4% in the third quarter. Farther Finance Advisors LLC now owns 1,174 shares of the company’s stock valued at $26,000 after acquiring an additional 534 shares during the last quarter. Osaic Holdings Inc. bought a new position in Cantor Equity Partners in the second quarter valued at about $452,000. Tower Research Capital LLC TRC bought a new position in Cantor Equity Partners in the second quarter valued at about $85,000. Jane Street Group LLC bought a new position in Cantor Equity Partners in the second quarter valued at about $5,815,000. Finally, Raymond James Financial Inc. bought a new position in Cantor Equity Partners in the second quarter valued at about $65,000.

About Cantor Equity Partners

Cantor Equity Partners, Inc is a blank check company, which engages in the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded on November 11, 2020 and is headquartered in New York, NY.