Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) Short Interest Up 881.4% in June

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 17,773 shares, a growth of 881.4% from the June 15th total of 1,811 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average trading volume of 95,629 shares, the days-to-cover ratio is currently 0.2 days.

Crown Reserve Acquisition Corp. I Price Performance

Shares of CRAC opened at $10.13 on Friday. Crown Reserve Acquisition Corp. I has a fifty-two week low of $9.89 and a fifty-two week high of $10.15. The business’s 50-day simple moving average is $10.10.

Crown Reserve Acquisition Corp. I (NASDAQ:CRAC) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC purchased a new stake in shares of Crown Reserve Acquisition Corp. I during the fourth quarter worth approximately $534,000. Wolverine Asset Management LLC acquired a new stake in shares of Crown Reserve Acquisition Corp. I during the fourth quarter worth $928,000. Boothbay Fund Management LLC purchased a new position in Crown Reserve Acquisition Corp. I in the 4th quarter valued at $1,118,000. Heights Capital Management Inc. purchased a new position in Crown Reserve Acquisition Corp. I in the 4th quarter valued at $1,988,000. Finally, Sona Asset Management US LLC acquired a new position in Crown Reserve Acquisition Corp. I in the 1st quarter valued at $2,002,000.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Crown Reserve Acquisition Corp. I from a “sell (e)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Crown Reserve Acquisition Corp. I Company Profile

Crown Reserve Acquisition Corp. I (NASDAQ: CRAC) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank‑check vehicle, the company was formed to raise capital through a public offering with the primary aim of identifying, negotiating and completing a business combination with one or more operating businesses. Prior to consummation of a qualifying transaction, Crown Reserve Acquisition Corp. I does not engage in substantive commercial operations beyond the activities necessary to carry out its formation and capital‑raising objectives.

The company’s principal activities include managing proceeds raised in its initial public offering, maintaining those funds in trust accounts, conducting due diligence on prospective targets and pursuing mergers, acquisitions or other strategic combinations that would enable the combined entity to become an operating public company.