Polar Asset Management Partners Inc. Has $1.89 Million Stock Position in Eureka Acquisition Corp. $EURK

Key Points

• Polar Asset Management increased its Eureka Acquisition position by 193% in the first quarter, acquiring 110,000 additional shares. It now owns 167,000 shares, worth approximately $1.89 million and representing 3.46% of the SPAC.
• Eureka Acquisition has a consensus “Sell” rating, with Weiss Ratings reiterating a “sell (D+)” recommendation; one analyst currently covers the stock.
• EURK opened at $11.35, within its 52-week range of $10.59 to $14.28, while the company reported quarterly EPS of $0.12. The SPAC has not yet announced a definitive merger or acquisition target.

Polar Asset Management Partners Inc. increased its position in Eureka Acquisition Corp. (NASDAQ:EURK - Free Report) by 193.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 167,000 shares of the company's stock after purchasing an additional 110,000 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 3.46% of Eureka Acquisition worth $1,894,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EURK. Meteora Capital LLC acquired a new position in shares of Eureka Acquisition in the 3rd quarter worth approximately $1,386,000. Clear Street Group Inc. lifted its position in shares of Eureka Acquisition by 35.4% during the 4th quarter. Clear Street Group Inc. now owns 92,366 shares of the company's stock worth $1,009,000 after buying an additional 24,135 shares during the period. Finally, Berkley W R Corp boosted its stake in Eureka Acquisition by 3.2% in the 1st quarter. Berkley W R Corp now owns 315,488 shares of the company's stock valued at $3,578,000 after buying an additional 9,860 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of Eureka Acquisition in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Eureka Acquisition currently has a consensus rating of "Sell".

Eureka Acquisition Stock Performance

Eureka Acquisition stock opened at $11.35 on Tuesday. Eureka Acquisition Corp. has a 1 year low of $10.59 and a 1 year high of $14.28. The company's 50-day moving average is $11.62 and its two-hundred day moving average is $11.37.

Eureka Acquisition (NASDAQ:EURK - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.12 EPS for the quarter.

About Eureka Acquisition

Eureka Acquisition Co NASDAQ: EURK is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. As a blank‐check vehicle, the company raised capital through an initial public offering to pursue mergers, acquisitions or other business combinations. Eureka Acquisition does not engage in any operational business activities of its own and has not yet announced a definitive target or transaction.

The company's charter provides a fixed time frame—typically 24 to 36 months—to identify and complete a qualifying business combination.

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