Lake Superior Acquisition Corp (NASDAQ:LKSP) Short Interest Down 51.5% in July

Key Points

• Short interest fell 51.5% in July to 3,933 shares as of July 31, representing about 0.0% of outstanding shares and a short-interest ratio of 0.3 days.
• Analyst sentiment remains negative: Weiss Ratings upgraded LKSP from “sell (e+)” to “sell (d-),” while the overall consensus rating is still “Sell.”
• Several institutional investors opened new positions, while LKSP shares slipped 0.1% to $10.18; the company also reported quarterly earnings of $0.05 per share.

Lake Superior Acquisition Corp (NASDAQ:LKSP - Get Free Report) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 3,933 shares, a drop of 51.5% from the July 15th total of 8,102 shares. Based on an average daily volume of 15,520 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the company's shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Lake Superior Acquisition from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of "Sell".

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LKSP. Rivernorth Capital Management LLC purchased a new position in Lake Superior Acquisition during the 1st quarter valued at about $3,015,000. Sona Asset Management US LLC purchased a new stake in Lake Superior Acquisition in the first quarter worth about $892,000. TrueMark Investments LLC bought a new position in shares of Lake Superior Acquisition during the first quarter valued at approximately $363,000. Lineage Point Capital LP bought a new position in shares of Lake Superior Acquisition during the fourth quarter valued at approximately $1,984,000. Finally, Virtu Financial LLC purchased a new position in shares of Lake Superior Acquisition during the fourth quarter valued at approximately $359,000.

Lake Superior Acquisition Stock Down 0.1%

Shares of NASDAQ LKSP traded down $0.01 during mid-day trading on Friday, hitting $10.18. 50,059 shares of the stock traded hands, compared to its average volume of 12,465. Lake Superior Acquisition has a 52 week low of $9.89 and a 52 week high of $10.20. The stock has a fifty day moving average of $10.16.

Lake Superior Acquisition (NASDAQ:LKSP - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.05 earnings per share for the quarter.

About Lake Superior Acquisition

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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