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

Shares of Lafayette Acquisition Corp. (NASDAQ:LAFA) traded down 0.3% during trading on Friday . The stock traded as low as $10.11 and last traded at $10.08. Approximately 108 shares changed hands during trading, a decline of 97% from the average daily volume of 3,150 shares. The stock had previously closed at $10.11.

Analyst Upgrades and Downgrades

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

Lafayette Acquisition Price Performance

The company has a 50-day simple moving average of $10.08.

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

Hedge Funds Weigh In On Lafayette Acquisition

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Arbitrage LLC acquired a new stake in shares of Lafayette Acquisition in the 4th quarter valued at about $6,530,000. Polar Asset Management Partners Inc. acquired a new position in Lafayette Acquisition during the 4th quarter worth approximately $4,950,000. Aristeia Capital L.L.C. bought a new position in Lafayette Acquisition in the fourth quarter worth approximately $3,960,000. Verition Fund Management LLC bought a new position in Lafayette Acquisition in the fourth quarter worth approximately $3,628,000. Finally, Sona Asset Management US LLC acquired a new stake in Lafayette Acquisition in the first quarter valued at approximately $3,490,000.

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.