SEP Acquisition Corp. (NASDAQ:SEPA) Sees Significant Increase in Short Interest

SEP Acquisition Corp. (NASDAQ:SEPA - Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 1,800 shares, a growth of 100.0% from the March 31st total of 900 shares. Currently, 0.4% of the company's shares are sold short. Based on an average trading volume of 1,300 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On SEP Acquisition

An institutional investor recently bought a new position in SEP Acquisition stock. Meteora Capital LLC purchased a new position in SEP Acquisition Corp. (NASDAQ:SEPA - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 97,498 shares of the company's stock, valued at approximately $1,041,000. Meteora Capital LLC owned approximately 1.68% of SEP Acquisition at the end of the most recent reporting period. 3.66% of the stock is currently owned by hedge funds and other institutional investors.

SEP Acquisition Stock Performance

Shares of SEPA stock remained flat at $10.00 during mid-day trading on Friday. 341 shares of the company's stock were exchanged, compared to its average volume of 1,052. The company has a 50-day moving average price of $11.07 and a 200-day moving average price of $10.69. SEP Acquisition has a 12-month low of $8.20 and a 12-month high of $17.00.

SEP Acquisition Company Profile

SEP Acquisition Corp. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was formerly known as Mercury Ecommerce Acquisition Corp. and changed its name to SEP Acquisition Corp.