EG Acquisition Corp. (NYSE:EGGF – Get Rating) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 21,100 shares, a growth of 603.3% from the November 30th total of 3,000 shares. Based on an average trading volume of 42,700 shares, the days-to-cover ratio is currently 0.5 days.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Bank of America Corp DE bought a new stake in shares of EG Acquisition during the first quarter valued at approximately $4,286,000. Woodline Partners LP purchased a new position in shares of EG Acquisition during the second quarter valued at approximately $2,921,000. Parallax Volatility Advisers L.P. lifted its holdings in shares of EG Acquisition by 33.8% during the 2nd quarter. Parallax Volatility Advisers L.P. now owns 941,404 shares of the company's stock valued at $9,165,000 after buying an additional 237,812 shares during the period. Goldman Sachs Group Inc. boosted its position in EG Acquisition by 42.8% in the second quarter. Goldman Sachs Group Inc. now owns 667,789 shares of the company's stock worth $6,501,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in shares of EG Acquisition by 11.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,102,500 shares of the company's stock valued at $10,733,000 after purchasing an additional 113,376 shares during the period. 63.29% of the stock is owned by hedge funds and other institutional investors.
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EG Acquisition Price Performance
EG Acquisition stock remained flat at $9.95 during mid-day trading on Friday. 245 shares of the company were exchanged, compared to its average volume of 93,604. EG Acquisition has a 52 week low of $9.62 and a 52 week high of $10.06. The company's 50 day moving average price is $9.88 and its 200-day moving average price is $9.81.
EG Acquisition Company Profile
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EG Acquisition Corp., a blank check company, intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.
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