Short Interest in Eureka Acquisition Corp. (NASDAQ:EURK) Decreases By 60.0%

Key Points

• Short interest in Eureka Acquisition Corp. has decreased by 60.0% in September, dropping from 500 shares to just 200 shares.
• Weiss Ratings reaffirmed a "sell (d)" rating for Eureka Acquisition, indicating a bearish outlook on the stock.
• Despite fluctuating stock performance within a 52-week range, large investors have increased their stakes significantly, with notable purchases in the first and second quarters.

Eureka Acquisition Corp. (NASDAQ:EURK - Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 200 shares, a decrease of 60.0% from the September 15th total of 500 shares. Based on an average daily trading volume, of 2,300 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the company's stock are short sold. Currently, 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 2,300 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Eureka Acquisition in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of "Sell".

Eureka Acquisition Price Performance

Shares of NASDAQ:EURK opened at $10.86 on Friday. Eureka Acquisition has a 52 week low of $10.07 and a 52 week high of $10.83. The company's 50 day moving average is $10.71 and its two-hundred day moving average is $10.54.

Institutional Investors Weigh In On Eureka Acquisition

Large investors have recently modified their holdings of the company. Gabelli Funds LLC purchased a new stake in shares of Eureka Acquisition in the 1st quarter valued at approximately $743,000. Polar Asset Management Partners Inc. acquired a new position in shares of Eureka Acquisition in the 1st quarter valued at $1,288,000. Clear Street LLC acquired a new position in shares of Eureka Acquisition in the 2nd quarter valued at $2,283,000. Quarry LP boosted its holdings in shares of Eureka Acquisition by 125.0% in the 1st quarter. Quarry LP now owns 225,000 shares of the company's stock valued at $2,321,000 after buying an additional 125,000 shares in the last quarter. Finally, Berkley W R Corp boosted its holdings in shares of Eureka Acquisition by 0.4% in the 2nd quarter. Berkley W R Corp now owns 305,628 shares of the company's stock valued at $3,179,000 after buying an additional 1,336 shares in the last quarter.

About Eureka Acquisition

Eureka Acquisition Corp focuses on effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2023 and is based in Grand Cayman, the Cayman Islands.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.