Kochav Defense Acquisition Corp. (NASDAQ:KCHV) Stock Short Interest Declines 54.0%

Key Points

• Short interest fell 54% to 198 shares as of September 30, down from 430 shares two weeks earlier. Short interest represented 0.0% of outstanding shares, with a short-interest ratio of 0.0 days.
• KCHV traded at $10.49, near its 52-week high of $10.50, while reporting quarterly EPS of $0.06. Trading volume was 6,022 shares, below the stated average volume of 32,958 shares.
• Institutional investors including BlueCrest Capital Management and Sona Asset Management opened positions, while Radcliffe Capital increased its holdings. Despite this activity, the stock retains an overall Sell rating from the sole analyst covering it.

Kochav Defense Acquisition Corp. (NASDAQ:KCHV - Get Free Report) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 198 shares, a decrease of 54.0% from the September 15th total of 430 shares. Based on an average trading volume of 5,339 shares, the short-interest ratio is currently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Kochav Defense Acquisition Stock Performance

KCHV traded up $0.00 during trading on Tuesday, hitting $10.49. 6,022 shares of the company's stock were exchanged, compared to its average volume of 32,958. The business's 50 day moving average is $10.45 and its two-hundred day moving average is $10.37. Kochav Defense Acquisition has a fifty-two week low of $10.07 and a fifty-two week high of $10.50.

Kochav Defense Acquisition (NASDAQ:KCHV - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Kochav Defense Acquisition

Several institutional investors and hedge funds have recently bought and sold shares of KCHV. BlueCrest Capital Management Ltd bought a new position in shares of Kochav Defense Acquisition in the second quarter valued at approximately $940,000. Sona Asset Management US LLC purchased a new position in Kochav Defense Acquisition during the first quarter valued at approximately $1,795,000. Finally, Radcliffe Capital Management L.P. increased its holdings in Kochav Defense Acquisition by 7.8% during the 4th quarter. Radcliffe Capital Management L.P. now owns 566,200 shares of the company's stock worth $5,741,000 after acquiring an additional 41,200 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Kochav Defense Acquisition from a "sell (d-)" rating to a "sell (d)" rating in a research report on Thursday, August 20th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Kochav Defense Acquisition presently has an average rating of "Sell".

Kochav Defense Acquisition Company Profile

Kochav Defense Acquisition Corp. is a special purpose acquisition company (SPAC) formed to pursue a business combination with one or more companies. Rather than operating a traditional business, the company's primary objective is to identify and merge with, acquire, or otherwise combine with an operating business.

Kochav Defense Acquisition has focused its search on opportunities in the defense, aerospace, homeland security and related technology sectors. Its prospective target companies may operate in areas such as defense systems, security technologies, advanced aerospace capabilities and other businesses serving government or military customers.

Until it completes a business combination, Kochav Defense Acquisition does not have an established portfolio of products or services and generally operates as a publicly traded acquisition vehicle.

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