Fifth Era Acquisition Corp I (NASDAQ:FERA) Sees Significant Decrease in Short Interest

Key Points

• Short interest fell 42.3% to 657 shares as of August 14, representing 0.0% of outstanding shares and a 0.0-day days-to-cover ratio.
• FERA opened at $10.49, near its 52-week high of $10.54. The company reported quarterly EPS of $0.04 and revenue of $2.12 million.
• Despite institutional purchases and increased holdings, analyst sentiment remains negative: Weiss Ratings reaffirmed a “sell” rating, matching the company’s overall consensus “Sell” rating.

Fifth Era Acquisition Corp I (NASDAQ:FERA - Get Free Report) was the recipient of a significant decrease in short interest in the month of August. As of August 14th, there was short interest totaling 657 shares, a decrease of 42.3% from the July 30th total of 1,138 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 45,685 shares, the days-to-cover ratio is currently 0.0 days.

Fifth Era Acquisition Corp I Price Performance

FERA stock opened at $10.49 on Friday. Fifth Era Acquisition Corp I has a one year low of $10.13 and a one year high of $10.54. The company's 50 day moving average price is $10.45 and its two-hundred day moving average price is $10.38.

Fifth Era Acquisition Corp I (NASDAQ:FERA - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.04 EPS for the quarter. The business had revenue of $2.12 million during the quarter.

Institutional Investors Weigh In On Fifth Era Acquisition Corp I

Large investors have recently added to or reduced their stakes in the company. PenderFund Capital Management Ltd. purchased a new position in shares of Fifth Era Acquisition Corp I during the fourth quarter valued at approximately $104,000. Virtu Financial LLC purchased a new position in Fifth Era Acquisition Corp I during the 4th quarter valued at $447,000. Rivernorth Capital Management LLC raised its holdings in Fifth Era Acquisition Corp I by 34.4% in the 4th quarter. Rivernorth Capital Management LLC now owns 399,872 shares of the company's stock worth $4,115,000 after purchasing an additional 102,372 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Fifth Era Acquisition Corp I in the 4th quarter worth about $4,116,000. Finally, Radcliffe Capital Management L.P. raised its stake in Fifth Era Acquisition Corp I by 22.8% in the fourth quarter. Radcliffe Capital Management L.P. now owns 404,403 shares of the company's stock worth $4,161,000 after buying an additional 75,201 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Fifth Era Acquisition Corp I in a report on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

About Fifth Era Acquisition Corp I

Fifth Era Acquisition Corp I NASDAQ: FERA is a special purpose acquisition company (SPAC) listed on the NASDAQ exchange. As a blank‑check vehicle, the company was formed to raise capital in public markets through an initial public offering and to identify, negotiate and complete a business combination with one or more operating companies. The primary business activity of Fifth Era Acquisition Corp I is to serve as an acquisition vehicle that facilitates the transition of a private company to the public markets through a merger, share exchange, asset acquisition or similar transaction.

Like other SPACs, Fifth Era Acquisition Corp I typically holds the proceeds from its public offering in a trust account pending the completion of a qualifying business combination.

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