Melar Acquisition Corp. I (NASDAQ:MACI) Posts Quarterly Earnings Results

Melar Acquisition Corp. I (NASDAQ:MACI) issued its quarterly earnings data on Thursday. The company reported $0.04 earnings per share for the quarter, FiscalAI reports.

Melar Acquisition Corp. I Stock Up 0.2%

Shares of MACI stock traded up $0.02 during trading on Friday, reaching $10.85. The company had a trading volume of 868 shares, compared to its average volume of 6,182. The firm’s 50 day simple moving average is $10.78 and its two-hundred day simple moving average is $10.69. Melar Acquisition Corp. I has a one year low of $10.33 and a one year high of $10.97.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Melar Acquisition Corp. I presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MACI. Wolverine Asset Management LLC lifted its holdings in shares of Melar Acquisition Corp. I by 137.5% during the third quarter. Wolverine Asset Management LLC now owns 926,328 shares of the company’s stock worth $9,726,000 after buying an additional 536,276 shares during the last quarter. L1 Global Manager Pty Ltd acquired a new position in shares of Melar Acquisition Corp. I during the fourth quarter worth approximately $3,561,000. Berkley W R Corp lifted its holdings in shares of Melar Acquisition Corp. I by 99.7% during the third quarter. Berkley W R Corp now owns 645,820 shares of the company’s stock worth $6,781,000 after buying an additional 322,372 shares during the last quarter. Radcliffe Capital Management L.P. acquired a new position in shares of Melar Acquisition Corp. I during the second quarter worth approximately $3,094,000. Finally, Crossingbridge Advisors LLC acquired a new position in shares of Melar Acquisition Corp. I during the fourth quarter worth approximately $2,245,000.

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.