Polar Asset Management Partners Inc. Sells 200,100 Shares of Lake Superior Acquisition Corp $LKSP

Key Points

• Polar Asset Management Partners cut its Lake Superior Acquisition holdings by 47.6%, selling 200,100 shares and retaining 219,900 shares worth approximately $2.21 million.
• LKSP opened at $10.16, near its 52-week high of $10.17, and reported quarterly earnings of $0.04 per share.
• Analyst sentiment remains negative: the stock has an average “Sell” rating, while several institutional investors recently established new positions.

Polar Asset Management Partners Inc. lowered its holdings in Lake Superior Acquisition Corp (NASDAQ:LKSP - Free Report) by 47.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 219,900 shares of the company's stock after selling 200,100 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 1.85% of Lake Superior Acquisition worth $2,210,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in LKSP. Virtu Financial LLC purchased a new position in shares of Lake Superior Acquisition during the fourth quarter valued at approximately $359,000. TrueMark Investments LLC bought a new stake in Lake Superior Acquisition in the first quarter valued at $363,000. Sona Asset Management US LLC bought a new stake in Lake Superior Acquisition in the first quarter valued at $892,000. Moore Capital Management LP purchased a new position in Lake Superior Acquisition during the 4th quarter valued at $1,042,000. Finally, Context Capital Management LLC bought a new position in Lake Superior Acquisition in the 4th quarter worth $1,736,000.

Lake Superior Acquisition Stock Performance

NASDAQ LKSP opened at $10.16 on Tuesday. The company's 50 day moving average price is $10.14. Lake Superior Acquisition Corp has a twelve month low of $9.89 and a twelve month high of $10.17.

Lake Superior Acquisition (NASDAQ:LKSP - Get Free Report) last posted its quarterly earnings data on Wednesday, May 13th. The company reported $0.04 earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Lake Superior Acquisition from a "sell (e)" rating to a "sell (e+)" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of "Sell".

Lake Superior Acquisition Profile

Lake Superior Acquisition Corp. NASDAQ: LKSP is a special purpose acquisition company (SPAC) formed to identify, acquire or merge with one or more businesses. As a blank‑check vehicle, its principal purpose is to raise capital in the public markets and use those proceeds, typically held in trust, to complete a business combination that delivers an operating company to public investors.

The company's primary activities center on sourcing, negotiating and consummating an initial business combination.

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