Kochav Defense Acquisition Corp. (NASDAQ:KCHVU – Get Free Report) was the target of a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 853 shares, a decrease of 84.8% from the July 15th total of 5,615 shares. Based on an average daily trading volume, of 507 shares, the days-to-cover ratio is currently 1.7 days.
Kochav Defense Acquisition Price Performance
Shares of NASDAQ:KCHVU remained flat at $10.90 during trading on Friday. The company has a 50-day simple moving average of $10.60 and a 200-day simple moving average of $10.54. Kochav Defense Acquisition has a one year low of $10.15 and a one year high of $11.00.
Hedge Funds Weigh In On Kochav Defense Acquisition
Large investors have recently bought and sold shares of the stock. Hudson Bay Capital Management LP bought a new position in shares of Kochav Defense Acquisition during the second quarter valued at about $6,614,000. Shaolin Capital Management LLC purchased a new position in Kochav Defense Acquisition in the second quarter valued at approximately $6,105,000. Radcliffe Capital Management L.P. bought a new position in shares of Kochav Defense Acquisition during the 2nd quarter worth $5,088,000. Boothbay Fund Management LLC purchased a new position in shares of Kochav Defense Acquisition in the second quarter worth about $478,000. Finally, Cable Car Capital LP bought a new stake in Kochav Defense Acquisition during the 2nd quarter valued at $2,472,000.
About Kochav Defense Acquisition
Kochav Defense Acquisition Corp (NASDAQ:KCHVU) is a Delaware-incorporated special-purpose acquisition company (SPAC) formed to effect a business combination with one or more businesses in the defense sector. The company completed its initial public offering to raise capital for the acquisition of companies operating in areas such as aerospace and defense technologies, national security solutions, cybersecurity, unmanned systems and related high-tech fields. As a development-stage company, Kochav Defense Acquisition currently holds its IPO proceeds in trust and has no commercial operations at present.
The SPAC structure provides investors with units comprising shares of common stock and accompanying warrants, offering potential upside upon the completion of a qualifying business combination.
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