Pine Tree Acquisition Corp. (NASDAQ:PAXGU) Stock Short Interest Jumps 189.9%

Pine Tree Acquisition Corp. (NASDAQ:PAXGU) was the recipient of a significant increase in short interest during the month of October. As of October 30th, there was short interest totaling 2,003 shares, an increase of 189.9% from the October 15th total of 691 shares. Based on an average trading volume of 35,603 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Pine Tree Acquisition to a “sell” rating in a research note on Saturday, October 10th.

Pine Tree Acquisition Trading Up 0.2%

Pine Tree Acquisition stock traded up $0.02 during trading on Friday, hitting $10.06. The company’s stock had a trading volume of 2,131 shares, compared to its average volume of 61,514. Pine Tree Acquisition has a 1-year low of $9.95 and a 1-year high of $10.40.

About Pine Tree Acquisition

Pine Tree Acquisition Corp. is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating businesses. The company does not have significant operating activities of its own and was established to raise capital through an initial public offering for the purpose of pursuing a merger, acquisition, or similar transaction. Its publicly traded units, represented by the Nasdaq symbol PAXGU, generally consist of shares of common stock and accompanying warrants.