Launch One Acquisition Corp. (NASDAQ:LPAA) Short Interest Down 37.6% in June

Key Points

• Short interest in Launch One Acquisition dropped sharply in June, falling 37.6% to 855 shares as of June 30 from 1,370 shares two weeks earlier.
• The stock was trading around $10.85, roughly in line with its 50-day and 200-day moving averages and near its 12-month range of $10.39 to $11.67.
• Analyst sentiment remains weak, with Weiss Ratings reiterating a “sell (d+)” and MarketBeat showing a consensus rating of “Sell.”

Launch One Acquisition Corp. (NASDAQ:LPAA - Get Free Report) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 855 shares, a drop of 37.6% from the June 15th total of 1,370 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 34,512 shares, the short-interest ratio is currently 0.0 days.

Launch One Acquisition Stock Down 0.5%

Launch One Acquisition stock opened at $10.85 on Friday. The stock's fifty day simple moving average is $10.84 and its 200-day simple moving average is $10.74. Launch One Acquisition has a twelve month low of $10.39 and a twelve month high of $11.67.

Launch One Acquisition (NASDAQ:LPAA - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported $0.06 earnings per share for the quarter. The business had revenue of $2.17 million for the quarter.

Institutional Investors Weigh In On Launch One Acquisition

Institutional investors have recently bought and sold shares of the stock. Crossingbridge Advisors LLC acquired a new position in shares of Launch One Acquisition during the fourth quarter worth about $878,000. Quarry LP raised its holdings in shares of Launch One Acquisition by 200.0% in the 3rd quarter. Quarry LP now owns 150,000 shares of the company's stock worth $1,575,000 after purchasing an additional 100,000 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Launch One Acquisition by 68.9% in the 4th quarter. Toronto Dominion Bank now owns 244,904 shares of the company's stock worth $2,594,000 after acquiring an additional 99,904 shares during the last quarter. Shaolin Capital Management LLC acquired a new position in shares of Launch One Acquisition in the 2nd quarter valued at about $3,645,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. boosted its stake in shares of Launch One Acquisition by 87.5% during the 2nd quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 750,000 shares of the company's stock valued at $7,811,000 after buying an additional 350,000 shares during the period.

Analyst Ratings Changes

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

About Launch One Acquisition

Launch One Acquisition Corp is a blank check company incorporated in Delaware. Its principal business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Shares and warrants of the company trade on the Nasdaq Global Market under the ticker symbols “LPAA” and “LPAAW.”

The company completed its initial public offering in 2021, raising gross proceeds through the sale of units, each consisting of one share of common stock and one quarter of a warrant.

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