Launch One Acquisition Corp. (NASDAQ:LPAA) Short Interest Update

Key Points

• Short interest surged 637% to 4,894 shares as of July 31, up from 664 shares on July 15. Despite the increase, short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.2.
• Weiss Ratings reaffirmed a “sell (d+)” rating, and the sole covering analyst also rates Launch One Acquisition as a Sell.
• Several institutional investors increased their positions, including TENOR Capital Management, which raised its holdings by 87.5% to 750,000 shares. LPAA opened at $10.79, within its 12-month range of $10.39 to $11.67, and reported quarterly EPS of $0.06 on $2.17 million in revenue.

Launch One Acquisition Corp. (NASDAQ:LPAA - Get Free Report) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 4,894 shares, a growth of 637.0% from the July 15th total of 664 shares. Currently, 0.0% of the company's stock are short sold. Based on an average trading volume of 24,392 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d+)" rating on shares of Launch One Acquisition in a research note on Monday, June 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Launch One Acquisition presently has an average rating of "Sell".

Institutional Trading of Launch One Acquisition

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

Launch One Acquisition Stock Performance

Shares of Launch One Acquisition stock opened at $10.79 on Wednesday. The company's 50 day moving average is $10.86 and its 200 day moving average is $10.77. 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 posted its earnings results on Thursday, May 14th. The company reported $0.06 EPS for the quarter. The company had revenue of $2.17 million during the quarter.

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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