Keen Vision Acquisition Corporation (NASDAQ:KVAC) Sees Significant Growth in Short Interest

Keen Vision Acquisition Corporation (NASDAQ:KVAC) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 1,454 shares, an increase of 1,298.1% from the May 14th total of 104 shares. Based on an average daily trading volume, of 2,415 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Keen Vision Acquisition in a research report on Friday, April 10th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Keen Vision Acquisition currently has a consensus rating of “Hold”.

Keen Vision Acquisition Trading Up 0.1%

KVAC stock traded up $0.01 during mid-day trading on Thursday, hitting $12.20. 218 shares of the stock were exchanged, compared to its average volume of 2,709. The business has a fifty day moving average price of $12.20 and a 200 day moving average price of $11.98. Keen Vision Acquisition has a 12 month low of $11.25 and a 12 month high of $12.55.

Keen Vision Acquisition (NASDAQ:KVAC) last issued its quarterly earnings results on Wednesday, March 25th. The company reported $0.45 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Keen Vision Acquisition

Several hedge funds have recently added to or reduced their stakes in the company. Clear Street Group Inc. lifted its stake in Keen Vision Acquisition by 86.6% during the fourth quarter. Clear Street Group Inc. now owns 61,530 shares of the company’s stock worth $723,000 after purchasing an additional 28,553 shares during the last quarter. Berkley W R Corp lifted its stake in shares of Keen Vision Acquisition by 5.0% in the 4th quarter. Berkley W R Corp now owns 749,372 shares of the company’s stock valued at $8,805,000 after acquiring an additional 35,357 shares during the last quarter. Crossingbridge Advisors LLC lifted its stake in shares of Keen Vision Acquisition by 8.9% in the 4th quarter. Crossingbridge Advisors LLC now owns 71,032 shares of the company’s stock valued at $835,000 after acquiring an additional 5,776 shares during the last quarter. Finally, Meteora Capital LLC bought a new stake in shares of Keen Vision Acquisition in the 3rd quarter valued at about $120,000. Institutional investors own 51.72% of the company’s stock.

About Keen Vision Acquisition

Keen Vision Acquisition Corp is a Delaware?incorporated special purpose acquisition company (SPAC) that completed its initial public offering in 2021. Trading on the Nasdaq under the ticker KVAC, the company raised capital through the sale of units priced at $10.00 each. Proceeds from the offering are held in a trust account pending the identification and completion of a business combination.

The company’s principal business activity is to seek a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets.