BEST SPAC I Acquisition Corp. (NASDAQ:BSAA) Short Interest Update

BEST SPAC I Acquisition Corp. (NASDAQ:BSAA) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 13,591 shares, an increase of 183.7% from the April 30th total of 4,791 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average daily volume of 6,104 shares, the short-interest ratio is presently 2.2 days.

Hedge Funds Weigh In On BEST SPAC I Acquisition

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Berkley W R Corp lifted its holdings in BEST SPAC I Acquisition by 34.6% in the first quarter. Berkley W R Corp now owns 437,808 shares of the company’s stock valued at $4,483,000 after buying an additional 112,553 shares during the period. Toronto Dominion Bank acquired a new position in BEST SPAC I Acquisition in the fourth quarter valued at $70,000. Boothbay Fund Management LLC acquired a new position in BEST SPAC I Acquisition in the fourth quarter valued at $1,646,000. Aristeia Capital L.L.C. acquired a new position in BEST SPAC I Acquisition in the fourth quarter valued at $962,000. Finally, PenderFund Capital Management Ltd. acquired a new position in BEST SPAC I Acquisition in the fourth quarter valued at $120,000.

BEST SPAC I Acquisition Trading Down 8.6%

Shares of NASDAQ:BSAA opened at $11.70 on Friday. The business’s fifty day simple moving average is $10.54. BEST SPAC I Acquisition has a 52 week low of $9.82 and a 52 week high of $13.37.

BEST SPAC I Acquisition (NASDAQ:BSAA) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $0.10 EPS for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of BEST SPAC I Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

BEST SPAC I Acquisition Company Profile

BEST SPAC I Acquisition Corp. (NASDAQ: BSAA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and merge with one or more operating businesses. As a blank?check company listed on the Nasdaq, its primary business activity is to seek a business combination that will result in the target becoming a publicly traded company through the SPAC vehicle.

Like other SPACs, BEST SPAC I is structured to raise capital from public investors and hold the proceeds in trust while management evaluates potential acquisition targets.