Weiss Ratings Reaffirms "Sell (D)" Rating for Eureka Acquisition (NASDAQ:EURK)

Key Points

• Weiss Ratings has maintained a "sell (D)" rating for Eureka Acquisition (NASDAQ:EURK), suggesting continued skepticism around the company's potential performance.
• Shares of Eureka Acquisition increased by 0.8% on Tuesday, trading at $10.80, with a trading volume significantly lower than its average.
• Several institutional investors, including Gabelli Funds and Polar Asset Management, have recently adjusted their holdings in Eureka Acquisition, indicating mixed interest among hedge funds.

Eureka Acquisition (NASDAQ:EURK - Get Free Report)'s stock had its "sell (d)" rating reissued by equities researchers at Weiss Ratings in a research report issued on Tuesday,Weiss Ratings reports.

Eureka Acquisition Trading Up 0.8%

Shares of NASDAQ:EURK traded up $0.09 during trading on Tuesday, hitting $10.80. The stock had a trading volume of 1,632 shares, compared to its average volume of 24,365. The stock has a 50-day simple moving average of $10.70 and a two-hundred day simple moving average of $10.53. Eureka Acquisition has a 12-month low of $10.06 and a 12-month high of $10.83.

Hedge Funds Weigh In On Eureka Acquisition

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gabelli Funds LLC acquired a new position in shares of Eureka Acquisition in the 1st quarter valued at $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 lifted its stake 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 purchasing an additional 125,000 shares during the last quarter. Finally, Berkley W R Corp lifted its stake 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 purchasing an additional 1,336 shares during 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.

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