NewHold Investment Corp III (NASDAQ:NHIC) Sees Significant Growth in Short Interest

Key Points

• Short interest surged 183.3% to 5,869 shares as of September 15, up from 2,072 shares at the end of August. Despite the increase, short interest represents approximately 0.0% of shares outstanding, with a days-to-cover ratio of 0.0.
• NHIC shares were flat at $8.64, below their 50-day and 200-day moving averages of $10.35 and $10.55, respectively. The company has a market capitalization of $238.58 million and recently reported a quarterly loss of $0.12 per share.
• Analyst sentiment remains negative: Weiss Ratings reaffirmed a “sell (d)” rating, and MarketBeat reports an average rating of Sell. Several hedge funds, however, recently acquired or increased stakes in the SPAC.

NewHold Investment Corp III (NASDAQ:NHIC - Get Free Report) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totaling 5,869 shares, a growth of 183.3% from the August 31st total of 2,072 shares. Based on an average daily trading volume, of 865,200 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of NewHold Investment Corp III in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of "Sell".

NewHold Investment Corp III Stock Performance

NewHold Investment Corp III stock remained flat at $8.64 during midday trading on Friday. The company's 50 day moving average is $10.35 and its two-hundred day moving average is $10.55. The company has a market cap of $238.58 million, a PE ratio of -123.43 and a beta of 0.30. NewHold Investment Corp III has a 52-week low of $8.50 and a 52-week high of $11.60.

NewHold Investment Corp III (NASDAQ:NHIC - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The company reported ($0.12) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Harraden Circle Investments LLC acquired a new stake in shares of NewHold Investment Corp III during the 2nd quarter worth $8,495,000. Radcliffe Capital Management L.P. boosted its stake in shares of NewHold Investment Corp III by 13.7% in the 4th quarter. Radcliffe Capital Management L.P. now owns 560,971 shares of the company's stock valued at $5,814,000 after purchasing an additional 67,767 shares in the last quarter. Kryger Capital LLC acquired a new stake in NewHold Investment Corp III in the first quarter valued at approximately $4,175,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of NewHold Investment Corp III during the 4th quarter valued at $4,146,000. Finally, Sona Asset Management US LLC acquired a new stake in shares of NewHold Investment Corp III during the first quarter valued at about $3,028,000.

About NewHold Investment Corp III

NewHold Investment Corp III is a special purpose acquisition company (SPAC) that was formed to identify and complete a business combination with an operating company. Its potential transaction could take the form of a merger, stock purchase, asset acquisition, reorganization, or similar combination.

As a SPAC, NewHold Investment Corp III does not operate a traditional business, manufacture products, or provide services to customers. Its activities are primarily focused on evaluating prospective target companies and pursuing a suitable transaction, subject to approval requirements and other customary conditions.

Publicly available information about the company's specific investment focus, geographic markets, and management team is limited.

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