Sona Asset Management US LLC Invests $3.49 Million in Lafayette Acquisition Corp. $LAFA

Sona Asset Management US LLC acquired a new stake in Lafayette Acquisition Corp. (NASDAQ:LAFA) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 350,000 shares of the company’s stock, valued at approximately $3,490,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Schonfeld Strategic Advisors LLC acquired a new position in Lafayette Acquisition during the fourth quarter worth $248,000. Moore Capital Management LP bought a new stake in Lafayette Acquisition during the fourth quarter worth $990,000. Clear Street Group Inc. acquired a new stake in Lafayette Acquisition in the fourth quarter valued at $1,273,000. Berkley W R Corp acquired a new stake in Lafayette Acquisition in the fourth quarter valued at $1,473,000. Finally, Radcliffe Capital Management L.P. bought a new position in shares of Lafayette Acquisition in the 4th quarter valued at about $1,980,000.

Lafayette Acquisition Trading Down 0.0%

LAFA stock opened at $10.11 on Monday. Lafayette Acquisition Corp. has a 1-year low of $9.87 and a 1-year high of $10.20. The business’s 50 day simple moving average is $10.09.

Lafayette Acquisition (NASDAQ:LAFA) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.05 earnings per share (EPS) for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Lafayette Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Lafayette Acquisition presently has a consensus rating of “Sell”.

Lafayette Acquisition Profile

Lafayette Acquisition Corp. (NASDAQ: LAFA) is a special purpose acquisition company (SPAC) formed to identify, acquire, or merge with one or more operating businesses. As a blank‑check vehicle, its primary business activity is sourcing and completing a business combination that would result in a privately held company becoming publicly traded through the SPAC structure.

The company raises capital from public market investors and typically holds the IPO proceeds in trust while its management and sponsors evaluate potential targets.