Lakeshore Acquisition III Corp. (NASDAQ:LCCC) Sees Significant Decrease in Short Interest

Lakeshore Acquisition III Corp. (NASDAQ:LCCC) was the target of a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 3,462 shares, a decline of 43.6% from the May 14th total of 6,135 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 126,060 shares, the days-to-cover ratio is presently 0.0 days.

Lakeshore Acquisition III Trading Down 0.0%

Shares of NASDAQ LCCC opened at $10.40 on Friday. The firm has a fifty day moving average price of $10.37. Lakeshore Acquisition III has a one year low of $10.00 and a one year high of $10.45.

Lakeshore Acquisition III (NASDAQ:LCCC) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.08 EPS for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Lakeshore Acquisition III in a report on Friday, May 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Lakeshore Acquisition III presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LCCC. Berkley W R Corp grew its holdings in Lakeshore Acquisition III by 17.0% in the 4th quarter. Berkley W R Corp now owns 205,374 shares of the company’s stock valued at $2,093,000 after buying an additional 29,814 shares in the last quarter. Rivernorth Capital Management LLC grew its holdings in Lakeshore Acquisition III by 33.6% in the 4th quarter. Rivernorth Capital Management LLC now owns 397,500 shares of the company’s stock valued at $4,051,000 after buying an additional 100,000 shares in the last quarter. Finally, Sona Asset Management US LLC acquired a new position in Lakeshore Acquisition III in the 1st quarter valued at $1,030,000.

About Lakeshore Acquisition III

Lakeshore Acquisition III (NASDAQ: LCCC) is a special purpose acquisition company (SPAC) listed on the Nasdaq stock exchange. As a blank‑check company, its primary business activity is to raise capital through an initial public offering and hold those proceeds in a trust while seeking a business combination, merger, asset acquisition or similar transaction that would bring a private operating company public through a reverse merger or other form of combination.

Prior to identifying and completing a qualifying business combination, Lakeshore Acquisition III does not operate traditional commercial businesses or offer products or services; instead, its operations are focused on target evaluation, due diligence, structuring potential transactions and managing the trust account and public‑company obligations.