Melar Acquisition Corp. I (NASDAQ:MACI) Sees Large Decline in Short Interest

Melar Acquisition Corp. I (NASDAQ:MACI) was the recipient of a large drop in short interest in January. As of January 30th, there was short interest totaling 1,366 shares, a drop of 19.4% from the January 15th total of 1,695 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 8,034 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 8,034 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Melar Acquisition Corp. I has an average rating of “Sell”.

Institutional Trading of Melar Acquisition Corp. I

Institutional investors and hedge funds have recently modified their holdings of the business. BCK Capital Management LP boosted its holdings in shares of Melar Acquisition Corp. I by 37.7% in the 3rd quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock worth $723,000 after purchasing an additional 18,874 shares in the last quarter. ABC Arbitrage SA bought a new stake in Melar Acquisition Corp. I in the fourth quarter valued at $213,000. Quarry LP purchased a new position in shares of Melar Acquisition Corp. I during the third quarter valued at about $249,000. Sandia Investment Management LP purchased a new position in shares of Melar Acquisition Corp. I in the 3rd quarter valued at approximately $249,000. Finally, Wolverine Asset Management LLC boosted its holdings in shares of Melar Acquisition Corp. I by 11.1% during the 4th quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company’s stock valued at $10,935,000 after buying an additional 102,361 shares in the last quarter.

Melar Acquisition Corp. I Stock Performance

NASDAQ MACI traded down $0.00 during mid-day trading on Monday, hitting $10.71. The company’s stock had a trading volume of 4,425 shares, compared to its average volume of 7,345. The company’s 50 day simple moving average is $10.65 and its 200 day simple moving average is $10.60. Melar Acquisition Corp. I has a twelve month low of $10.16 and a twelve month high of $10.97.

Melar Acquisition Corp. I (NASDAQ:MACI) last posted its earnings results on Friday, November 14th. The company reported $0.05 EPS for the quarter.

Melar Acquisition Corp. I Company Profile

Melar Acquisition Corp. I is a special purpose acquisition company (SPAC) incorporated in Delaware and listed on the NASDAQ under the symbol MACI. The company was formed to raise capital through an initial public offering and to identify, merge with or acquire one or more businesses with the goal of completing an initial business combination. As a blank check vehicle, Melar Acquisition Corp. I does not currently conduct operations of its own beyond the pursuit of a qualifying transaction.

Upon its IPO, Melar Acquisition Corp.