SilverBox Corp IV (NYSE:SBXD) Sees Large Drop in Short Interest

Key Points

• Short interest plunged 57.6% in April to just 126 shares, leaving 0.0% of the company's shares sold short and a days-to-cover ratio of 0.0, indicating negligible short activity.
• Multiple institutional investors recently opened new positions—including Citadel Advisors, JPMorgan Chase, Lineage Point, Schonfeld and Rangeley—with disclosed purchases totaling about $1.9 million.
• SBXD trades near $10.77 with a market cap of $274.02 million and a PE of 46.81, and carries a consensus "Sell" rating (Weiss Ratings reissued a "sell (d)").

SilverBox Corp IV (NYSE:SBXD - Get Free Report) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 126 shares, a drop of 57.6% from the March 31st total of 297 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 38,654 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Investors Weigh In On SilverBox Corp IV

Large investors have recently modified their holdings of the stock. Rangeley Capital LLC acquired a new position in SilverBox Corp IV during the 2nd quarter worth approximately $110,000. Schonfeld Strategic Advisors LLC acquired a new stake in SilverBox Corp IV in the fourth quarter valued at approximately $205,000. Citadel Advisors LLC purchased a new stake in shares of SilverBox Corp IV during the third quarter valued at approximately $489,000. Lineage Point Capital LP acquired a new position in shares of SilverBox Corp IV during the fourth quarter worth $529,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of SilverBox Corp IV during the second quarter worth $603,000.

SilverBox Corp IV Stock Performance

Shares of NYSE:SBXD traded up $0.03 during midday trading on Friday, hitting $10.77. 109 shares of the company's stock traded hands, compared to its average volume of 27,426. The firm's fifty day moving average price is $10.69 and its two-hundred day moving average price is $10.61. SilverBox Corp IV has a twelve month low of $10.25 and a twelve month high of $11.64. The company has a market cap of $274.02 million, a PE ratio of 46.81 and a beta of 0.09.

SilverBox Corp IV (NYSE:SBXD - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $2.14 million during the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of SilverBox Corp IV in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, SilverBox Corp IV presently has a consensus rating of "Sell".

About SilverBox Corp IV

SilverBox Corp IV is a special purpose acquisition company (SPAC) formed to raise capital through an initial public offering and to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. As a blank-check vehicle, the company does not engage in any commercial operations until it completes its business combination.

The company was organized under the laws of the State of Delaware and is sponsored by SilverBox Capital Partners, a private investment firm that focuses on partnering with founder-led companies across technology, healthcare, consumer and business services sectors.

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