FIGX Capital Acquisition Corp. (NASDAQ:FIGX) Stock Short Interest Drops 52.9%

Key Points

• Short interest fell 52.9% at FIGX Capital Acquisition, declining from 380 shares on August 31 to 179 shares on September 15. Short interest now represents 0.0% of shares outstanding, with a 0.0-day short-interest ratio.
• FIGX received a slightly improved but still negative rating from Weiss Ratings, moving from “sell (d-)” to “sell (d).” The stock’s sole analyst rating remains Sell.
• Institutional investors increased or initiated positions in FIGX, while the stock traded near $10.32—close to its 12-month range of $9.98 to $10.38. FIGX is a SPAC focused on finding and completing a business combination.

FIGX Capital Acquisition Corp. (NASDAQ:FIGX - Get Free Report) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 179 shares, a decrease of 52.9% from the August 31st total of 380 shares. Based on an average daily volume of 6,565 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of FIGX Capital Acquisition from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday, September 1st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, FIGX Capital Acquisition presently has an average rating of "Sell".

Institutional Trading of FIGX Capital Acquisition

Several institutional investors have recently modified their holdings of FIGX. Magnetar Financial LLC purchased a new stake in shares of FIGX Capital Acquisition during the fourth quarter worth about $5,030,000. Periscope Capital Inc. boosted its holdings in FIGX Capital Acquisition by 27.0% in the 4th quarter. Periscope Capital Inc. now owns 444,400 shares of the company's stock worth $4,471,000 after buying an additional 94,400 shares during the last quarter. Radcliffe Capital Management L.P. boosted its holdings in FIGX Capital Acquisition by 8.2% in the 4th quarter. Radcliffe Capital Management L.P. now owns 331,994 shares of the company's stock worth $3,340,000 after buying an additional 25,041 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in FIGX Capital Acquisition during the 4th quarter worth approximately $3,150,000. Finally, Mint Tower Capital Management B.V. purchased a new stake in FIGX Capital Acquisition during the 4th quarter worth approximately $2,264,000.

FIGX Capital Acquisition Stock Performance

FIGX Capital Acquisition stock opened at $10.32 on Monday. FIGX Capital Acquisition has a 12 month low of $9.98 and a 12 month high of $10.38. The business has a 50 day simple moving average of $10.31 and a 200-day simple moving average of $10.24.

FIGX Capital Acquisition (NASDAQ:FIGX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.06 earnings per share for the quarter.

About FIGX Capital Acquisition

FIGX Capital Acquisition Corp. NASDAQ: FIGX is a special purpose acquisition company, or SPAC. Unlike an operating company, it was formed to identify and complete a merger, share exchange, asset acquisition, or similar business combination with one or more private companies.

The company does not have an established portfolio of products or services of its own. Its activities are primarily focused on evaluating potential acquisition targets, negotiating a transaction, and seeking shareholder approval for a proposed business combination.

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