Lafayette Acquisition (NASDAQ:LAFA) Trading Down 0.3% – Time to Sell?

Lafayette Acquisition Corp. (NASDAQ:LAFA)’s stock price dropped 0.3% during trading on Thursday . The stock traded as low as $10.06 and last traded at $10.06. Approximately 1,006 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 8,701 shares. The stock had previously closed at $10.09.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Lafayette Acquisition from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Lafayette Acquisition has an average rating of “Sell”.

Lafayette Acquisition Trading Down 0.3%

The business’s 50 day simple moving average is $10.01.

Lafayette Acquisition (NASDAQ:LAFA) last released its earnings results on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter.

Institutional Trading of Lafayette Acquisition

Several hedge funds and other institutional investors have recently bought and sold shares of LAFA. First Trust Capital Management L.P. acquired a new stake in Lafayette Acquisition during the fourth quarter valued at approximately $2,970,000. Berkley W R Corp acquired a new position in shares of Lafayette Acquisition in the 4th quarter worth approximately $1,473,000. Clear Street Group Inc. bought a new stake in shares of Lafayette Acquisition in the 4th quarter valued at approximately $1,273,000. Verition Fund Management LLC bought a new stake in shares of Lafayette Acquisition in the 4th quarter valued at approximately $3,628,000. Finally, Radcliffe Capital Management L.P. acquired a new stake in shares of Lafayette Acquisition during the 4th quarter valued at approximately $1,980,000.

Lafayette Acquisition Company Profile

Lafayette Acquisition Corp. (NASDAQ: LAFA) is a special purpose acquisition company (SPAC) formed to identify, acquire, or merge with one or more operating businesses. As a blank‑check vehicle, its primary business activity is sourcing and completing a business combination that would result in a privately held company becoming publicly traded through the SPAC structure.

The company raises capital from public market investors and typically holds the IPO proceeds in trust while its management and sponsors evaluate potential targets.