Keen Vision Acquisition Corporation (NASDAQ:KVAC) Short Interest Up 1,298.1% in May

Keen Vision Acquisition Corporation (NASDAQ:KVAC) was the recipient of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 1,454 shares, a growth of 1,298.1% from the May 14th total of 104 shares. Based on an average trading volume of 2,415 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the shares of the stock are short sold.

Keen Vision Acquisition Trading Up 1.1%

Keen Vision Acquisition stock traded up $0.13 during midday trading on Tuesday, reaching $12.33. The company had a trading volume of 12,260 shares, compared to its average volume of 2,728. Keen Vision Acquisition has a 12-month low of $11.25 and a 12-month high of $12.55. The firm’s fifty day simple moving average is $12.20 and its 200-day simple moving average is $11.98.

Keen Vision Acquisition (NASDAQ:KVAC) last issued its quarterly earnings results on Wednesday, March 25th. The company reported $0.45 earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Keen Vision Acquisition in a research report on Friday, April 10th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of KVAC. Meteora Capital LLC purchased a new position in Keen Vision Acquisition in the 3rd quarter valued at about $120,000. Clear Street Group Inc. purchased a new position in Keen Vision Acquisition in the 3rd quarter worth approximately $380,000. Crossingbridge Advisors LLC purchased a new position in Keen Vision Acquisition in the 3rd quarter worth approximately $755,000. Finally, Berkley W R Corp lifted its stake in Keen Vision Acquisition by 5.0% in the 4th quarter. Berkley W R Corp now owns 749,372 shares of the company’s stock worth $8,805,000 after purchasing an additional 35,357 shares in the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.

About Keen Vision Acquisition

Keen Vision Acquisition Corp is a Delaware‐incorporated special purpose acquisition company (SPAC) that completed its initial public offering in 2021. Trading on the Nasdaq under the ticker KVAC, the company raised capital through the sale of units priced at $10.00 each. Proceeds from the offering are held in a trust account pending the identification and completion of a business combination.

The company’s principal business activity is to seek a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets.