Eureka Acquisition Corp. (NASDAQ:EURK) Sees Significant Increase in Short Interest

Eureka Acquisition Corp. (NASDAQ:EURK) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 390 shares, a growth of 242.1% from the September 15th total of 114 shares. Based on an average trading volume of 2,361 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the shares of the company are short sold.

Eureka Acquisition Trading Up 0.2%

EURK traded up $0.03 on Friday, hitting $11.53. 5,570 shares of the stock traded hands, compared to its average volume of 11,993. Eureka Acquisition has a 52 week low of $10.71 and a 52 week high of $14.28. The business has a fifty day moving average price of $11.62 and a two-hundred day moving average price of $11.55.

Eureka Acquisition (NASDAQ:EURK) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.12 EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded shares of Eureka Acquisition from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company has an average rating of “Sell”.

Institutional Investors Weigh In On Eureka Acquisition

A number of institutional investors have recently bought and sold shares of EURK. Berkley W R Corp increased its holdings in Eureka Acquisition by 3.2% in the 1st quarter. Berkley W R Corp now owns 315,488 shares of the company’s stock valued at $3,578,000 after buying an additional 9,860 shares during the period. Polar Asset Management Partners Inc. lifted its holdings in shares of Eureka Acquisition by 193.0% during the 1st quarter. Polar Asset Management Partners Inc. now owns 167,000 shares of the company’s stock worth $1,894,000 after acquiring an additional 110,000 shares during the period. Finally, Clear Street Group Inc. lifted its holdings in shares of Eureka Acquisition by 35.4% during the 4th quarter. Clear Street Group Inc. now owns 92,366 shares of the company’s stock worth $1,009,000 after acquiring an additional 24,135 shares during the period.

About Eureka Acquisition

Eureka Acquisition Corp. is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with an operating company. Its potential transactions may include a merger, share exchange, asset acquisition, share purchase, recapitalization or reorganization.

Unlike an operating company, Eureka Acquisition Corp. does not have a portfolio of products or services of its own. Its principal activity is evaluating potential acquisition targets and pursuing a transaction intended to create a publicly traded operating business.

The company was established as a blank-check company and has been listed on the Nasdaq Capital Market under the symbol EURK.