Short Interest in NewHold Investment Corp III (NASDAQ:NHIC) Rises By 1,115.2%

NewHold Investment Corp III (NASDAQ:NHIC) was the recipient of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 28,702 shares, an increase of 1,115.2% from the May 14th total of 2,362 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 568,903 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of NewHold Investment Corp III

A number of hedge funds have recently bought and sold shares of NHIC. Clear Street Group Inc. bought a new stake in NewHold Investment Corp III in the 3rd quarter worth approximately $67,000. Sandia Investment Management LP bought a new stake in NewHold Investment Corp III in the 2nd quarter worth approximately $254,000. Alyeska Investment Group L.P. bought a new stake in NewHold Investment Corp III in the 3rd quarter worth approximately $450,000. JPMorgan Chase & Co. bought a new stake in NewHold Investment Corp III in the 2nd quarter worth approximately $1,015,000. Finally, Context Capital Management LLC bought a new stake in NewHold Investment Corp III in the 3rd quarter worth approximately $1,018,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded NewHold Investment Corp III from a “sell (d-)” rating to a “sell (d)” rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

NewHold Investment Corp III Trading Down 0.4%

Shares of NHIC traded down $0.05 during trading hours on Tuesday, reaching $11.09. 28,072 shares of the company’s stock traded hands, compared to its average volume of 355,975. The stock has a market cap of $306.19 million, a PE ratio of 92.42 and a beta of 0.21. The firm’s 50 day simple moving average is $10.61 and its 200-day simple moving average is $10.47. NewHold Investment Corp III has a 12 month low of $10.13 and a 12 month high of $11.60.

NewHold Investment Corp III (NASDAQ:NHIC) last released its earnings results on Monday, May 18th. The company reported $0.03 earnings per share for the quarter. The firm had revenue of $3.71 million during the quarter.

About NewHold Investment Corp III

NewHold Investment Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination, with one or more target businesses. The company was formerly known as NewHold Industrial Corp. and changed its name to NewHold Investment Corp. in February 2020. NewHold Investment Corp. was incorporated in 2020 and is based in Houston, Texas.