NewHold Investment Corp III (NASDAQ:NHIC) Stock Price Up 0.5% - Time to Buy?

Key Points

• NewHold Investment Corp III (NASDAQ:NHIC) shares rose 0.5% to $10.81 in Wednesday trading, though volume was far below average at 10,622 shares versus a typical 68,627.
• The stock has a consensus Sell rating, and Weiss Ratings recently nudged its view from “sell (d-)” to “sell (d).”
• NewHold, a SPAC with no significant operations, reported quarterly earnings of $0.03 per share on revenue of $3.71 million, while institutional investors have recently taken new positions in the stock.

NewHold Investment Corp III (NASDAQ:NHIC - Get Free Report)'s stock price rose 0.5% during mid-day trading on Wednesday . The company traded as high as $10.86 and last traded at $10.81. 10,622 shares were traded during mid-day trading, a decline of 85% from the average session volume of 68,627 shares. The stock had previously closed at $10.76.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded NewHold Investment Corp III from a "sell (d-)" rating to a "sell (d)" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of "Sell".

NewHold Investment Corp III Trading Up 0.5%

The firm's 50-day moving average price is $10.90 and its 200-day moving average price is $10.58. The stock has a market capitalization of $298.46 million, a PE ratio of 90.08 and a beta of 0.28.

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.

Institutional Trading of NewHold Investment Corp III

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new stake in NewHold Investment Corp III in the second quarter worth $98,000. FNY Investment Advisers LLC purchased a new stake in shares of NewHold Investment Corp III in the second quarter valued at $217,000. Sandia Investment Management LP bought a new stake in shares of NewHold Investment Corp III in the 2nd quarter worth about $254,000. Alyeska Investment Group L.P. bought a new stake in shares of NewHold Investment Corp III in the 3rd quarter worth about $450,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of NewHold Investment Corp III during the 2nd quarter worth about $1,015,000.

About NewHold Investment Corp III

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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