Short Interest in Arrowroot Acquisition Corp. (NASDAQ:ARRW) Declines By 12.2%

Arrowroot Acquisition Corp. (NASDAQ:ARRWGet Free Report) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 6,500 shares, a decline of 12.2% from the February 29th total of 7,400 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 21,500 shares, the short-interest ratio is currently 0.3 days.

Analysts Set New Price Targets

Separately, Benchmark initiated coverage on shares of Arrowroot Acquisition in a research note on Wednesday, December 13th. They set a “buy” rating and a $18.00 target price for the company.

Check Out Our Latest Report on Arrowroot Acquisition

Hedge Funds Weigh In On Arrowroot Acquisition

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hsbc Holdings PLC raised its stake in shares of Arrowroot Acquisition by 246.8% in the 1st quarter. Hsbc Holdings PLC now owns 1,147,485 shares of the company’s stock valued at $11,182,000 after acquiring an additional 816,631 shares during the period. Millennium Management LLC increased its stake in Arrowroot Acquisition by 2.4% during the 2nd quarter. Millennium Management LLC now owns 988,556 shares of the company’s stock worth $9,698,000 after buying an additional 23,534 shares during the period. Cubist Systematic Strategies LLC increased its stake in Arrowroot Acquisition by 233.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 120,014 shares of the company’s stock worth $1,177,000 after buying an additional 84,018 shares during the period. Centiva Capital LP purchased a new stake in Arrowroot Acquisition during the 2nd quarter worth approximately $158,000. Finally, Goldman Sachs Group Inc. increased its stake in Arrowroot Acquisition by 32.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 818,586 shares of the company’s stock worth $7,989,000 after buying an additional 199,991 shares during the period. 32.94% of the stock is currently owned by institutional investors and hedge funds.

Arrowroot Acquisition Stock Performance

ARRW opened at $10.85 on Friday. Arrowroot Acquisition has a twelve month low of $8.46 and a twelve month high of $13.47. The firm’s 50-day moving average price is $10.48 and its 200 day moving average price is $10.49.

Arrowroot Acquisition Company Profile

(Get Free Report)

Arrowroot Acquisition Corp. does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company intends to identify and acquire a business focusing on the enterprise software sector.

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