Melar Acquisition Corp. I (NASDAQ:MACI) Sees Significant Increase in Short Interest

Melar Acquisition Corp. I (NASDAQ:MACI) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 5,317 shares, a growth of 551.6% from the July 15th total of 816 shares. Based on an average daily volume of 1,289 shares, the short-interest ratio is presently 4.1 days. Approximately 0.0% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Melar Acquisition Corp. I

A number of hedge funds have recently added to or reduced their stakes in MACI. Berkley W R Corp grew its stake in shares of Melar Acquisition Corp. I by 15.0% in the first quarter. Berkley W R Corp now owns 998,963 shares of the company’s stock worth $10,759,000 after acquiring an additional 130,474 shares in the last quarter. Toronto Dominion Bank raised its stake in shares of Melar Acquisition Corp. I by 11.0% in the fourth quarter. Toronto Dominion Bank now owns 133,198 shares of the company’s stock valued at $1,416,000 after acquiring an additional 13,158 shares in the last quarter. Crossingbridge Advisors LLC purchased a new position in Melar Acquisition Corp. I in the fourth quarter valued at $2,245,000. L1 Global Manager Pty Ltd purchased a new position in Melar Acquisition Corp. I in the fourth quarter valued at $3,561,000. Finally, ABC Arbitrage SA acquired a new position in Melar Acquisition Corp. I during the 4th quarter worth $213,000.

Melar Acquisition Corp. I Stock Performance

NASDAQ MACI traded up $0.02 during trading on Wednesday, hitting $10.94. The stock had a trading volume of 533 shares, compared to its average volume of 17,687. The firm has a 50 day moving average price of $10.90 and a 200 day moving average price of $10.82. Melar Acquisition Corp. I has a twelve month low of $10.47 and a twelve month high of $11.38.

Melar Acquisition Corp. I (NASDAQ:MACI) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.04 earnings per share (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.