Short Interest in NewHold Investment Corp III (NASDAQ:NHIC) Declines By 86.3%

Key Points

• Short interest in NHIC plunged 86.3% to 2,996 shares as of August 14, representing approximately 0.0% of outstanding shares and just 0.0 days of average trading volume.
• Several institutional investors—including Alyeska Investment Group, Sandia Investment Management, and FNY Investment Advisers—established new positions in the company during the second or third quarter.
• NHIC remains viewed negatively by analysts, with Weiss Ratings reiterating a “Sell (D)” rating and the stock carrying an overall “Sell” consensus. Shares recently traded at $10.60, while the company reported a quarterly loss of $0.12 per share.

NewHold Investment Corp III (NASDAQ:NHIC - Get Free Report) was the target of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 2,996 shares, a decline of 86.3% from the July 30th total of 21,844 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily trading volume, of 119,681 shares, the short-interest ratio is presently 0.0 days.

Hedge Funds Weigh In On NewHold Investment Corp III

Several institutional investors have recently made changes to their positions in NHIC. Strategic Investment Solutions Inc. IL purchased a new position in shares of NewHold Investment Corp III in the second quarter worth approximately $98,000. Readystate Asset Management LP purchased a new stake in NewHold Investment Corp III during the second quarter valued at approximately $126,000. FNY Investment Advisers LLC bought a new position in NewHold Investment Corp III in the second quarter worth approximately $217,000. Sandia Investment Management LP bought a new position in NewHold Investment Corp III in the second quarter worth approximately $254,000. Finally, Alyeska Investment Group L.P. purchased a new position in shares of NewHold Investment Corp III during the 3rd quarter worth $450,000.

Wall Street Analyst Weigh In

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

NewHold Investment Corp III Price Performance

Shares of NHIC traded down $0.03 during trading hours on Wednesday, hitting $10.60. The stock had a trading volume of 98,234 shares, compared to its average volume of 125,409. NewHold Investment Corp III has a 12 month low of $10.16 and a 12 month high of $11.60. The firm has a market capitalization of $292.56 million, a PE ratio of -151.37 and a beta of 0.30. The stock has a fifty day moving average price of $10.78 and a 200 day moving average price of $10.63.

NewHold Investment Corp III (NASDAQ:NHIC - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported ($0.12) earnings per share for the quarter. The business had revenue of $3.74 million during the quarter.

NewHold Investment Corp III Company Profile

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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