AMCI Acquisition Corp. (NASDAQ:AMCI) Sees Large Drop in Short Interest

AMCI Acquisition Corp. (NASDAQ:AMCI) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 11,350 shares, a drop of 74.1% from the July 15th total of 43,892 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 167,182 shares, the days-to-cover ratio is presently 0.1 days.

AMCI Acquisition Trading Down 4.0%

AMCI stock traded down $0.19 during trading hours on Friday, hitting $4.62. 9,752 shares of the stock were exchanged, compared to its average volume of 123,187. The firm has a market capitalization of $104.41 million, a P/E ratio of 470.00 and a beta of 0.27. The company has a 50-day simple moving average of $4.78 and a two-hundred day simple moving average of $5.69. AMCI Acquisition has a 12 month low of $2.50 and a 12 month high of $42.00.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AMCI shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of AMCI Acquisition in a research note on Tuesday, July 21st. Wall Street Zen upgraded AMCI Acquisition from a “strong sell” rating to a “hold” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Trading of AMCI Acquisition

Several large investors have recently modified their holdings of the stock. DLD Asset Management LP acquired a new position in AMCI Acquisition in the fourth quarter valued at about $84,000. Themes Management Co LLC acquired a new stake in AMCI Acquisition during the first quarter worth about $213,000. Finally, Harraden Circle Investments LLC acquired a new stake in AMCI Acquisition during the fourth quarter worth about $1,115,000. 46.08% of the stock is owned by institutional investors and hedge funds.

About AMCI Acquisition

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.