Gores Holdings XI, Inc. (NASDAQ:GHXIU) Sees Significant Increase in Short Interest

Gores Holdings XI, Inc. (NASDAQ:GHXIU) saw a large growth in short interest in August. As of August 14th, there was short interest totaling 2,422 shares, a growth of 48.8% from the July 30th total of 1,628 shares. Based on an average trading volume of 6,844 shares, the short-interest ratio is currently 0.4 days.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Gores Holdings XI to a “hold” rating in a report on Saturday, July 4th.

Gores Holdings XI Stock Performance

Shares of NASDAQ:GHXIU traded up $0.04 on Tuesday, hitting $10.19. 141 shares of the company’s stock were exchanged, compared to its average volume of 104,664. The stock’s 50-day moving average is $10.14. Gores Holdings XI has a 1-year low of $10.03 and a 1-year high of $11.05.

Gores Holdings XI Company Profile

Gores Holdings XI, Inc is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a special purpose acquisition company (SPAC), it does not operate a traditional commercial business of its own prior to completing such a transaction.

The company was organized by The Gores Group, a private equity firm known for sponsoring acquisition vehicles focused on identifying and combining with an operating business.