Amanat Acquisition Corp. (NASDAQ:AMAN) Short Interest Update

Amanat Acquisition Corp. (NASDAQ:AMAN) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 13,631 shares, a drop of 64.0% from the July 30th total of 37,904 shares. Based on an average daily trading volume, of 27,379 shares, the short-interest ratio is presently 0.5 days. Currently, 0.2% of the company’s shares are sold short.

Amanat Acquisition Price Performance

Amanat Acquisition stock opened at $10.74 on Friday. Amanat Acquisition has a 52-week low of $9.98 and a 52-week high of $10.79. The stock’s 50 day moving average price is $10.29.

Amanat Acquisition (NASDAQ:AMAN) last issued its quarterly earnings results on Thursday, June 25th. The company reported ($0.03) earnings per share (EPS) for the quarter.

Analyst Upgrades and Downgrades

AMAN has been the subject of several recent research reports. Wall Street Zen upgraded shares of Amanat Acquisition to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings assumed coverage on Amanat Acquisition in a report on Tuesday, August 11th. They issued a “sell (e)” rating for the company. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.