Short Interest in KRAKacquisition Corp (NASDAQ:KRAQ) Rises By 58.8%

KRAKacquisition Corp (NASDAQ:KRAQ) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,056 shares, a growth of 58.8% from the August 15th total of 665 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 41,287 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded KRAKacquisition from a “sell (e)” rating to a “sell (e+)” rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

KRAKacquisition Stock Performance

KRAQ remained flat at $10.03 during trading hours on Thursday. 1,862 shares of the company traded hands, compared to its average volume of 52,030. KRAKacquisition has a 1 year low of $9.78 and a 1 year high of $10.44. The stock’s 50-day moving average is $10.01. The company has a market capitalization of $376.12 million and a PE ratio of 143.29.

About KRAKacquisition

KRAKacquisition Corp. is a special purpose acquisition company, or SPAC, listed on the Nasdaq under the symbol KRAQ. The company was formed to pursue a business combination, such as a merger, acquisition, stock purchase, or similar transaction, with one or more operating businesses.

Unlike an operating company, KRAKacquisition does not currently appear to offer products or services of its own. Its principal activity is identifying and completing a transaction with a target company, after which the combined business may operate as a publicly traded company.

Specific information about KRAKacquisition’s target industry, geographic focus, completed transactions, and leadership is limited in publicly available sources.