NewHold Investment Corp III (NASDAQ:NHIC) Short Interest Down 33.8% in July

Key Points

• Short interest fell 33.8% in July to 26,886 shares, representing about 0.1% of NHIC’s outstanding shares and only 0.6 days of average trading volume.
• Several institutional investors initiated positions during the second quarter, led by TENOR Capital Management with an investment valued at approximately $9.95 million.
• Weiss Ratings reiterated a “Sell” rating, leaving NHIC with a consensus “Sell” rating from the one analyst covering the stock. Shares opened at $10.80, within a one-year range of $10.16 to $11.60.

NewHold Investment Corp III (NASDAQ:NHIC - Get Free Report) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 26,886 shares, a drop of 33.8% from the June 30th total of 40,614 shares. Based on an average daily trading volume, of 41,962 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the company's shares are sold short.

Hedge Funds Weigh In On NewHold Investment Corp III

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new stake in shares of NewHold Investment Corp III during the second quarter valued at approximately $1,015,000. Karpus Management Inc. bought a new position in NewHold Investment Corp III in the 2nd quarter valued at $1,207,000. Shaolin Capital Management LLC bought a new position in NewHold Investment Corp III in the 2nd quarter valued at $2,034,000. Whitebox Advisors LLC purchased a new stake in shares of NewHold Investment Corp III during the 2nd quarter valued at $2,542,000. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in shares of NewHold Investment Corp III during the 2nd quarter valued at $9,950,000.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of NewHold Investment Corp III in a report on Wednesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, NewHold Investment Corp III has a consensus rating of "Sell".

NewHold Investment Corp III Price Performance

NASDAQ:NHIC opened at $10.80 on Friday. The company has a market cap of $298.19 million, a PE ratio of 90.00 and a beta of 0.28. NewHold Investment Corp III has a one year low of $10.16 and a one year high of $11.60. The firm has a 50-day moving average of $10.92 and a 200-day moving average of $10.60.

NewHold Investment Corp III (NASDAQ:NHIC - Get Free Report) last released its quarterly earnings results on Monday, May 18th. The company reported $0.03 EPS for the quarter. The company had revenue of $3.71 million during the quarter.

NewHold Investment Corp III Company Profile

NewHold Investment Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination, with one or more target businesses. The company was formerly known as NewHold Industrial Corp. and changed its name to NewHold Investment Corp. in February 2020. NewHold Investment Corp. was incorporated in 2020 and is based in Houston, Texas.

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