Sierra Lake Acquisition Corp. (NASDAQ:SIER – Get Rating) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 10,700 shares, a decline of 26.2% from the April 15th total of 14,500 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 30,600 shares, the days-to-cover ratio is presently 0.3 days.
Shares of SIER stock traded up $0.01 on Tuesday, reaching $9.86. 50,000 shares of the stock were exchanged, compared to its average volume of 195,690. Sierra Lake Acquisition has a one year low of $9.65 and a one year high of $10.35. The firm’s 50 day moving average price is $9.87.
Several hedge funds have recently added to or reduced their stakes in SIER. Aristeia Capital LLC bought a new stake in shares of Sierra Lake Acquisition during the first quarter worth $19,178,000. Owl Creek Asset Management L.P. bought a new stake in shares of Sierra Lake Acquisition during the fourth quarter worth $14,377,000. MMCAP International Inc. SPC bought a new stake in shares of Sierra Lake Acquisition during the fourth quarter worth $14,377,000. Radcliffe Capital Management L.P. acquired a new stake in shares of Sierra Lake Acquisition during the fourth quarter worth $14,181,000. Finally, Marshall Wace LLP acquired a new stake in shares of Sierra Lake Acquisition during the fourth quarter worth $14,129,000.
Sierra Lake Acquisition Corp. intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in Chicago, Illinois.
- Get a free copy of the StockNews.com research report on Sierra Lake Acquisition (SIER)
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