Melar Acquisition Corp. I (NASDAQ:MACI) Sees Significant Growth in Short Interest

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 1,634 shares, a growth of 19.6% from the January 29th total of 1,366 shares. Based on an average trading volume of 6,240 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the company’s stock are sold short. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 6,240 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Melar Acquisition Corp. I Price Performance

MACI stock remained flat at $10.73 during midday trading on Wednesday. The company had a trading volume of 13,663 shares, compared to its average volume of 11,685. The firm has a 50-day simple moving average of $10.68 and a two-hundred day simple moving average of $10.62. Melar Acquisition Corp. I has a one year low of $10.19 and a one year high of $10.97.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Meteora Capital LLC purchased a new stake in shares of Melar Acquisition Corp. I during the second quarter worth $11,669,000. Wolverine Asset Management LLC grew its stake in shares of Melar Acquisition Corp. I by 137.5% in the 3rd quarter. Wolverine Asset Management LLC now owns 926,328 shares of the company’s stock valued at $9,726,000 after buying an additional 536,276 shares during the period. Magnetar Financial LLC acquired a new position in shares of Melar Acquisition Corp. I in the 2nd quarter valued at $3,861,000. L1 Global Manager Pty Ltd purchased a new stake in shares of Melar Acquisition Corp. I in the 4th quarter valued at approximately $3,561,000. Finally, Alberta Investment Management Corp acquired a new position in Melar Acquisition Corp. I during the second quarter worth $3,412,000.

Melar Acquisition Corp. I Company Profile

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.