Cal Redwood Acquisition Corp. (NASDAQ:CRAQ) Stock Short Interest Falls 55.8%

Cal Redwood Acquisition Corp. (NASDAQ:CRAQ) saw a large decrease in short interest in September. As of September 30th, there was short interest totaling 244 shares, a decrease of 55.8% from the September 15th total of 552 shares. Based on an average daily volume of 45,995 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Cal Redwood Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research report on Monday, August 24th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has an average rating of “Sell”.

Cal Redwood Acquisition Stock Up 0.1%

NASDAQ:CRAQ traded up $0.01 during trading hours on Thursday, hitting $10.42. 204,512 shares of the company’s stock traded hands, compared to its average volume of 59,633. Cal Redwood Acquisition has a twelve month low of $10.06 and a twelve month high of $10.43. The stock’s fifty day moving average price is $10.38 and its two-hundred day moving average price is $10.31.

Cal Redwood Acquisition (NASDAQ:CRAQ) last released its quarterly earnings results on Monday, August 17th. The company reported $0.06 earnings per share for the quarter. The business had revenue of $2.11 million for the quarter.

Hedge Funds Weigh In On Cal Redwood Acquisition

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Lineage Point Capital LP acquired a new stake in shares of Cal Redwood Acquisition during the 4th quarter worth approximately $2,846,000. Sona Asset Management US LLC acquired a new position in shares of Cal Redwood Acquisition in the 1st quarter valued at $3,086,000. Finally, Radcliffe Capital Management L.P. grew its stake in shares of Cal Redwood Acquisition by 16.3% during the fourth quarter. Radcliffe Capital Management L.P. now owns 545,628 shares of the company’s stock worth $5,524,000 after purchasing an additional 76,582 shares during the period.

Cal Redwood Acquisition Company Profile

Cal Redwood Acquisition Corp. (NASDAQ: CRAQ) is a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more private companies. Potential transactions may include a merger, stock exchange, asset acquisition, reorganization or similar corporate combination.

As a SPAC, Cal Redwood Acquisition does not operate a conventional business or currently offer products and services to customers. Its activities are primarily focused on evaluating potential acquisition targets and completing a transaction that would allow a private company to become publicly traded.

Information about a completed operating combination, specific target industries, geographic markets and company leadership is limited.