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

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

Analyst Upgrades and Downgrades

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

Eureka Acquisition Trading Up 0.1%

The business 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 results on Tuesday, February 10th. The company reported $0.08 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Eureka Acquisition

Several institutional investors have recently modified their holdings of the business. Berkley W R Corp increased its position in shares of Eureka Acquisition by 0.4% during the second quarter. Berkley W R Corp now owns 305,628 shares of the company’s stock worth $3,179,000 after acquiring an additional 1,336 shares during the period. Clear Street Group Inc. grew its stake in Eureka Acquisition by 35.4% during the 4th quarter. Clear Street Group Inc. now owns 92,366 shares of the company’s stock worth $1,009,000 after purchasing an additional 24,135 shares in the last quarter. Meteora Capital LLC purchased a new stake in Eureka Acquisition during the 3rd quarter worth about $1,386,000. Crossingbridge Advisors LLC acquired a new stake in Eureka Acquisition in the 3rd quarter valued at about $1,431,000. Finally, Clear Street LLC acquired a new stake in Eureka Acquisition in the 2nd quarter valued at about $2,283,000.

About Eureka Acquisition

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.