Eureka Acquisition (NASDAQ:EURK) Trading Up 0.1% – Here’s Why

Shares of Eureka Acquisition Corp. (NASDAQ:EURK) shot up 0.1% on Friday . The company traded as high as $11.21 and last traded at $11.2150. 1,918 shares were traded during trading, an increase of 36% from the average session volume of 1,407 shares. The stock had previously closed at $11.20.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Eureka Acquisition in a research note on Friday, January 9th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Eureka Acquisition Stock Up 0.1%

The stock has a fifty day moving average of $11.07 and a 200-day moving average of $10.87.

Eureka Acquisition (NASDAQ:EURK) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.08 earnings per share for the quarter.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Clear Street Group Inc. acquired a new position in Eureka Acquisition during the third quarter worth approximately $729,000. Meteora Capital LLC purchased a new position in shares of Eureka Acquisition during the third quarter worth approximately $1,386,000. Crossingbridge Advisors LLC purchased a new position in shares of Eureka Acquisition during the third quarter worth approximately $1,431,000. Clear Street LLC acquired a new position in shares of Eureka Acquisition in the 2nd quarter valued at $2,283,000. Finally, Berkley W R Corp raised its position in 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.

Eureka Acquisition Company Profile

Eureka Acquisition Co (NASDAQ: EURK) is a special purpose acquisition company (SPAC) incorporated in Delaware in 2021. As a blank‐check vehicle, the company raised capital through an initial public offering to pursue mergers, acquisitions or other business combinations. Eureka Acquisition does not engage in any operational business activities of its own and has not yet announced a definitive target or transaction.

The company’s charter provides a fixed time frame—typically 24 to 36 months—to identify and complete a qualifying business combination.