Charlton Aria Acquisition Corp (NASDAQ:CHAR) Sees Significant Growth in Short Interest

Charlton Aria Acquisition Corp (NASDAQ:CHAR) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 6,527 shares, a growth of 85.1% from the August 15th total of 3,526 shares. Based on an average trading volume of 2,018 shares, the days-to-cover ratio is presently 3.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Charlton Aria Acquisition in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Charlton Aria Acquisition Stock Performance

Shares of NASDAQ CHAR opened at $10.96 on Wednesday. Charlton Aria Acquisition has a 52-week low of $10.33 and a 52-week high of $11.46. The firm’s 50 day moving average price is $10.90 and its 200-day moving average price is $10.76.

Charlton Aria Acquisition (NASDAQ:CHAR) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.05 EPS for the quarter.

Institutional Investors Weigh In On Charlton Aria Acquisition

Large investors have recently added to or reduced their stakes in the stock. Sona Asset Management US LLC purchased a new stake in shares of Charlton Aria Acquisition during the 1st quarter worth $1,058,000. Berkley W R Corp boosted its holdings in 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 last quarter. Clear Street Group Inc. boosted its position in Charlton Aria Acquisition by 277.6% in the 4th quarter. Clear Street Group Inc. now owns 116,977 shares of the company’s stock worth $1,222,000 after purchasing an additional 86,000 shares in the last quarter. SkyView Investment Advisors LLC acquired a new stake in shares of Charlton Aria Acquisition during the 2nd quarter valued at about $324,000. Finally, Robinson Capital Management LLC increased its holdings in Charlton Aria Acquisition by 105.4% in the 2nd quarter. Robinson Capital Management LLC now owns 29,716 shares of the company’s stock worth $321,000 after acquiring an additional 15,250 shares in the last quarter.

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.