Short Interest in Melar Acquisition Corp. I (NASDAQ:MACI) Drops By 23.9%

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totaling 1,645 shares, a decline of 23.9% from the December 15th total of 2,161 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily volume of 13,625 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 13,625 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

Institutional Trading of Melar Acquisition Corp. I

Hedge funds and other institutional investors have recently modified their holdings of the stock. BCK Capital Management LP lifted its stake in shares of Melar Acquisition Corp. I by 37.7% in the 3rd quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock valued at $723,000 after acquiring an additional 18,874 shares during the last quarter. Sandia Investment Management LP acquired a new position in Melar Acquisition Corp. I in the 3rd quarter worth about $249,000. Quarry LP acquired a new position in Melar Acquisition Corp. I in the 3rd quarter worth about $249,000. Radcliffe Capital Management L.P. raised its position in Melar Acquisition Corp. I by 45.0% in the third quarter. Radcliffe Capital Management L.P. now owns 426,939 shares of the company’s stock valued at $4,483,000 after purchasing an additional 132,564 shares during the last quarter. Finally, Wealthspring Capital LLC boosted its stake in shares of Melar Acquisition Corp. I by 181.7% during the second quarter. Wealthspring Capital LLC now owns 459,235 shares of the company’s stock valued at $4,827,000 after purchasing an additional 296,185 shares in the last quarter.

Melar Acquisition Corp. I Stock Performance

NASDAQ:MACI traded up $0.01 during trading hours on Monday, hitting $10.70. The company’s stock had a trading volume of 4,980 shares, compared to its average volume of 8,334. Melar Acquisition Corp. I has a twelve month low of $10.11 and a twelve month high of $10.97. The stock has a fifty day simple moving average of $10.61 and a 200-day simple moving average of $10.58.

Melar Acquisition Corp. I (NASDAQ:MACI) last issued its earnings results on Friday, November 14th. The company reported $0.05 EPS for the quarter.

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.