Charlton Aria Acquisition Corp (NASDAQ:CHAR) Sees Large Drop in Short Interest

Charlton Aria Acquisition Corp (NASDAQ:CHAR) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 4,553 shares, a decline of 33.0% from the May 14th total of 6,799 shares. Based on an average trading volume of 20,367 shares, the short-interest ratio is currently 0.2 days.

Charlton Aria Acquisition Trading Down 0.2%

CHAR opened at $10.78 on Wednesday. The company’s 50 day simple moving average is $10.71. Charlton Aria Acquisition has a one year low of $10.25 and a one year high of $11.30.

Charlton Aria Acquisition (NASDAQ:CHAR) last released its earnings results on Wednesday, May 27th. The company reported $0.06 EPS for the quarter.

Institutional Trading of Charlton Aria Acquisition

A number of large investors have recently modified their holdings of CHAR. ABC Arbitrage SA purchased a new stake in shares of Charlton Aria Acquisition in the fourth quarter valued at approximately $209,000. Glazer Capital LLC boosted its holdings in shares of Charlton Aria Acquisition by 5.3% in the fourth quarter. Glazer Capital LLC now owns 50,242 shares of the company’s stock valued at $526,000 after purchasing an additional 2,528 shares during the period. Clear Street Group Inc. boosted its holdings in shares of Charlton Aria Acquisition by 277.6% in the fourth quarter. Clear Street Group Inc. now owns 116,977 shares of the company’s stock valued at $1,222,000 after purchasing an additional 86,000 shares during the period. Berkley W R Corp boosted its holdings in shares of Charlton Aria Acquisition by 19.4% in the first quarter. Berkley W R Corp now owns 878,975 shares of the company’s stock valued at $9,304,000 after purchasing an additional 142,746 shares during the period. Finally, Sona Asset Management US LLC purchased a new stake in shares of Charlton Aria Acquisition in the first quarter valued at approximately $1,058,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Charlton Aria Acquisition in a report on Friday, April 24th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Charlton Aria Acquisition has a consensus rating of “Sell”.

Charlton Aria Acquisition Corp. (NASDAQ: CHAR) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank-check vehicle, its primary business purpose is to identify, negotiate and complete a business combination, merger, capital stock exchange, asset acquisition or similar transaction with one or more operating businesses. SPACs such as Charlton Aria raise capital through public offerings and seek to use those proceeds to acquire a private company and take it public through the combination.

Like other SPACs, Charlton Aria’s principal activities center on sourcing potential targets, conducting due diligence, negotiating transaction terms and securing shareholder and regulatory approvals for a proposed business combination.