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

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 8,556 shares, an increase of 60.9% from the July 30th total of 5,317 shares. Based on an average daily volume of 366 shares, the short-interest ratio is currently 23.4 days. Currently, 0.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Melar Acquisition Corp. I Trading Up 0.2%

Shares of Melar Acquisition Corp. I stock traded up $0.02 during trading hours on Tuesday, reaching $10.97. 470 shares of the stock traded hands, compared to its average volume of 1,987. Melar Acquisition Corp. I has a one year low of $10.50 and a one year high of $11.38. The company has a 50 day moving average price of $10.94 and a 200 day moving average price of $10.85.

Melar Acquisition Corp. I (NASDAQ:MACI) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.04 earnings per share for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Berkley W R Corp increased its stake in shares of Melar Acquisition Corp. I by 15.0% in the 1st quarter. Berkley W R Corp now owns 998,963 shares of the company’s stock worth $10,759,000 after purchasing an additional 130,474 shares in the last quarter. Wolverine Asset Management LLC raised its holdings in Melar Acquisition Corp. I by 11.1% in the 4th quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company’s stock worth $10,935,000 after purchasing an additional 102,361 shares during the period. L1 Global Manager Pty Ltd purchased a new position in Melar Acquisition Corp. I during the fourth quarter valued at $3,561,000. ABC Arbitrage SA purchased a new position in Melar Acquisition Corp. I during the fourth quarter valued at $213,000. Finally, Radcliffe Capital Management L.P. bought a new stake in Melar Acquisition Corp. I during the second quarter valued at about $3,094,000.

About Melar Acquisition Corp. I

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.