Amanat Acquisition Corp. (NASDAQ:AMAN) Short Interest Up 1,365.2% in July

Amanat Acquisition Corp. (NASDAQ:AMAN) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 37,904 shares, a growth of 1,365.2% from the July 15th total of 2,587 shares. Based on an average daily trading volume, of 50,452 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.5% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Amanat Acquisition to a “hold” rating in a report on Saturday, May 23rd.

Amanat Acquisition Stock Performance

Shares of NASDAQ AMAN traded up $0.13 during trading on Tuesday, reaching $10.40. 13,853 shares of the company traded hands, compared to its average volume of 92,233. The company has a fifty day moving average price of $10.15. Amanat Acquisition has a 12-month low of $9.98 and a 12-month high of $10.70.

Amanat Acquisition Company Profile

Amanat Acquisition Corp. is a special purpose acquisition company, or SPAC, formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Like other SPACs, its purpose is to identify and complete a transaction with an operating company rather than to run a traditional commercial business of its own.

The company was organized to pursue acquisition opportunities, but detailed public information about an operating business, product lineup, or end-market services is limited because its primary function is to serve as a vehicle for a future business combination.