Melar Acquisition Corp. I (NASDAQ:MACI) Short Interest Update

Melar Acquisition Corp. I (NASDAQ:MACI) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 2,144 shares, a growth of 29.2% from the February 26th total of 1,659 shares. Based on an average trading volume of 29,651 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Melar Acquisition Corp. I has an average rating of “Sell”.

Institutional Trading of Melar Acquisition Corp. I

Several hedge funds have recently made changes to their positions in MACI. Meteora Capital LLC purchased a new stake in Melar Acquisition Corp. I during the 2nd quarter worth approximately $11,669,000. Wolverine Asset Management LLC increased its position in shares of Melar Acquisition Corp. I by 11.1% during the fourth quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company’s stock worth $10,935,000 after acquiring an additional 102,361 shares during the period. Berkley W R Corp raised its stake in shares of Melar Acquisition Corp. I by 34.5% in the fourth quarter. Berkley W R Corp now owns 868,489 shares of the company’s stock valued at $9,232,000 after acquiring an additional 222,669 shares in the last quarter. Radcliffe Capital Management L.P. raised its stake in shares of Melar Acquisition Corp. I by 45.0% in the third quarter. Radcliffe Capital Management L.P. now owns 426,939 shares of the company’s stock valued at $4,483,000 after acquiring an additional 132,564 shares in the last quarter. Finally, L1 Global Manager Pty Ltd purchased a new position in Melar Acquisition Corp. I in the fourth quarter valued at $3,561,000.

Melar Acquisition Corp. I Trading Up 0.2%

Shares of MACI traded up $0.02 during midday trading on Friday, hitting $10.77. 14,251 shares of the stock were exchanged, compared to its average volume of 36,429. Melar Acquisition Corp. I has a 52-week low of $10.19 and a 52-week high of $10.97. The stock has a fifty day simple moving average of $10.72 and a 200 day simple moving average of $10.65.

About Melar Acquisition Corp. I

Melar Acquisition Corp. I is a special purpose acquisition company (SPAC) incorporated in Delaware and listed on the NASDAQ under the symbol MACI. The company was formed to raise capital through an initial public offering and to identify, merge with or acquire one or more businesses with the goal of completing an initial business combination. As a blank check vehicle, Melar Acquisition Corp. I does not currently conduct operations of its own beyond the pursuit of a qualifying transaction.

Upon its IPO, Melar Acquisition Corp.