Starboard Value Acquisition Corp. (NASDAQ:SVAC) Short Interest Update

Starboard Value Acquisition Corp. (NASDAQ:SVAC) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 105,327 shares, an increase of 287.3% from the June 15th total of 27,197 shares. Based on an average trading volume of 1,252,082 shares, the short-interest ratio is currently 0.1 days. Currently, 0.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Starboard Value Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Hedge Funds Weigh In On Starboard Value Acquisition

Several institutional investors and hedge funds have recently modified their holdings of SVAC. Readystate Asset Management LP bought a new position in shares of Starboard Value Acquisition in the first quarter valued at about $311,000. Rivernorth Capital Management LLC bought a new stake in shares of Starboard Value Acquisition during the 1st quarter worth about $4,394,000. Cannon Global Investment Management LLC bought a new stake in shares of Starboard Value Acquisition during the 1st quarter worth about $279,000. Virtu Financial LLC bought a new stake in shares of Starboard Value Acquisition during the 4th quarter worth about $186,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in Starboard Value Acquisition in the 4th quarter valued at about $10,150,000.

Starboard Value Acquisition Price Performance

NASDAQ:SVAC traded up $0.59 on Monday, hitting $9.71. The company’s stock had a trading volume of 147,504 shares, compared to its average volume of 337,715. Starboard Value Acquisition has a one year low of $7.35 and a one year high of $12.00. The stock has a fifty day moving average of $10.26 and a two-hundred day moving average of $10.33.

Starboard Value Acquisition (NASDAQ:SVAC) last issued its earnings results on Thursday, May 14th. The company reported ($13.80) EPS for the quarter.

Starboard Value Acquisition Company Profile

Starboard Value Acquisition Corp., a blank check company, focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2019 and is based in New York, New York.