Short Interest in AMCI Acquisition Corp. (NASDAQ:AMCI) Drops By 39.5%

AMCI Acquisition Corp. (NASDAQ:AMCI) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totaling 51,068 shares, a decline of 39.5% from the May 31st total of 84,443 shares. Based on an average daily trading volume, of 66,699 shares, the short-interest ratio is presently 0.8 days. Approximately 0.3% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMCI. DLD Asset Management LP purchased a new stake in shares of AMCI Acquisition during the 4th quarter worth about $84,000. Themes Management Co LLC purchased a new position in shares of AMCI Acquisition in the 1st quarter valued at about $213,000. Finally, Harraden Circle Investments LLC purchased a new position in shares of AMCI Acquisition in the 4th quarter valued at about $1,115,000. Hedge funds and other institutional investors own 46.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen raised shares of AMCI Acquisition from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings downgraded AMCI Acquisition from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

AMCI Acquisition Price Performance

AMCI traded up $1.34 on Wednesday, reaching $6.32. 246,588 shares of the stock were exchanged, compared to its average volume of 103,292. The company’s 50-day moving average price is $5.23 and its 200 day moving average price is $6.31. The firm has a market capitalization of $142.81 million, a PE ratio of 625.00 and a beta of 0.25. AMCI Acquisition has a fifty-two week low of $2.50 and a fifty-two week high of $42.00.

AMCI Acquisition (NASDAQ:AMCI) last issued its quarterly earnings results on Monday, April 20th. The company reported ($1.64) earnings per share for the quarter. The company had revenue of $1.29 million for the quarter.

AMCI Acquisition Company Profile

AMCI Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses operating in the natural resource infrastructure, value chain, and logistics-related sectors. The company was founded in 2018 and is based in Latrobe, Pennsylvania.