Eureka Acquisition Corp. (NASDAQ:EURK) Sees Large Decrease in Short Interest

Key Points

• Eureka Acquisition Corp. experienced a 28.6% decrease in short interest in September, bringing the total to just 500 shares, which represents approximately 0.0% of the stock sold short.
• Several institutional investors, including Gabelli Funds LLC and Quarry LP, have recently made significant investments in Eureka Acquisition, indicating growing interest from larger financial entities.
• Weiss Ratings has issued a "sell (d-)" rating for Eureka Acquisition, contributing to the overall rating of "Sell" from analysts following the stock.

Eureka Acquisition Corp. (NASDAQ:EURK - Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 500 shares, a decrease of 28.6% from the August 31st total of 700 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 7,800 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 7,800 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Institutional Investors Weigh In On Eureka Acquisition

A number of institutional investors have recently bought and sold shares of the business. Gabelli Funds LLC purchased a new position in Eureka Acquisition in the first quarter worth about $743,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Eureka Acquisition during the first quarter valued at $1,288,000. Clear Street LLC acquired a new position in Eureka Acquisition during the second quarter valued at $2,283,000. Quarry LP lifted its position in Eureka Acquisition by 125.0% during the first quarter. Quarry LP now owns 225,000 shares of the company's stock valued at $2,321,000 after purchasing an additional 125,000 shares during the period. Finally, Berkley W R Corp lifted its position in Eureka Acquisition by 0.4% during the second quarter. Berkley W R Corp now owns 305,628 shares of the company's stock valued at $3,179,000 after purchasing an additional 1,336 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Eureka Acquisition in a research note on Saturday, September 27th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of "Sell".

Eureka Acquisition Trading Down 0.5%

EURK stock opened at $10.65 on Tuesday. The business's 50 day moving average price is $10.68 and its two-hundred day moving average price is $10.51. Eureka Acquisition has a fifty-two week low of $10.06 and a fifty-two week high of $10.83.

About Eureka Acquisition

Eureka Acquisition Corp focuses on effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2023 and is based in Grand Cayman, the Cayman Islands.

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