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

Melar Acquisition Corp. I (NASDAQ:MACI) saw a large drop in short interest in March. As of March 31st, there was short interest totaling 1,472 shares, a drop of 31.3% from the March 15th total of 2,144 shares. Based on an average daily volume of 37,540 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the shares of the stock are short sold.

Melar Acquisition Corp. I Trading Up 0.1%

Shares of MACI traded up $0.01 during mid-day trading on Wednesday, reaching $10.79. The company had a trading volume of 598 shares, compared to its average volume of 22,247. The company’s 50 day simple moving average is $10.74 and its 200 day simple moving average is $10.67. Melar Acquisition Corp. I has a 1-year low of $10.19 and a 1-year high of $10.97.

Melar Acquisition Corp. I (NASDAQ:MACI) last posted its quarterly earnings results on Friday, March 6th. The company reported $0.06 earnings per share for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Melar Acquisition Corp. I currently has an average rating of “Sell”.

Institutional Investors Weigh In On Melar Acquisition Corp. I

Several hedge funds have recently added to or reduced their stakes in the business. Wolverine Asset Management LLC boosted its position in Melar Acquisition Corp. I by 11.1% during the 4th quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company’s stock worth $10,935,000 after buying an additional 102,361 shares during the period. Berkley W R Corp boosted its position in Melar Acquisition Corp. I by 34.5% during the 4th quarter. Berkley W R Corp now owns 868,489 shares of the company’s stock worth $9,232,000 after buying an additional 222,669 shares during the period. Radcliffe Capital Management L.P. boosted its position in Melar Acquisition Corp. I by 45.0% during the 3rd quarter. Radcliffe Capital Management L.P. now owns 426,939 shares of the company’s stock worth $4,483,000 after buying an additional 132,564 shares during the period. L1 Global Manager Pty Ltd acquired a new stake in Melar Acquisition Corp. I during the 4th quarter worth approximately $3,561,000. Finally, Crossingbridge Advisors LLC acquired a new stake in Melar Acquisition Corp. I during the 4th quarter worth approximately $2,245,000.

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.