East Resources (NASDAQ:ERES) Acquisition Sees Sharp Rise in Short-Term Interest
East Resources Acquisition (NASDAQ:ERES – Get Rating) benefited from significant growth in short-term interest during the month of April. As of April 15, there were short interests totaling 6,900 shares, a growth of 102.9% from the March 31 total of 3,400 shares. Based on an average daily volume of 29,700 shares, the short interest ratio is currently 0.2 days.
Several institutional investors have recently changed their stake in the company. Bank of America Corp DE increased its holdings of East Resources Acquisition shares by 2.0% in the fourth quarter. Bank of America Corp DE now owns 102,886 shares of the company worth $1,016,000 after buying 2,000 more shares in the last quarter. Citadel Advisors LLC increased its holdings of East Resources Acquisition shares by 2.6% in the third quarter. Citadel Advisors LLC now owns 97,139 shares of the company worth $956,000 after buying 2,449 additional shares in the last quarter. Integrity Capital Management HK Ltd bought a new position in shares of East Resources Acquisition in the first quarter for a value of approximately $33,000. Sculptor Capital LP increased its holdings of East Resources Acquisition shares by 1.8% in the third quarter. Sculptor Capital LP now owns 217,532 shares of the company worth $2,140,000 after purchasing an additional 3,861 shares in the last quarter. Finally, Morgan Stanley increased its holdings of East Resources Acquisition shares by 5,760.2% in the first quarter. Morgan Stanley now owns 5,450 shares of the company worth $53,000 after buying 5,357 additional shares in the last quarter. Hedge funds and other institutional investors hold 62.71% of the company’s shares.
Shares of East Resources Acquisition opened at $9.94 on Friday. East Resources Acquisition has a 52-week low of $9.70 and a 52-week high of $9.98. The company’s 50-day moving average price is $9.92 and its 200-day moving average price is $9.89.
East Resources Acquisition Company Profile (Get a rating)
East Resources Acquisition Company does not have any significant activities. The Company intends to enter into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. East Resources Acquisition Company was founded in 2020 and is based in Boca Raton, Florida.
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