Melar Acquisition Corp. I (NASDAQ:MACI) Short Interest Update

Melar Acquisition Corp. I (NASDAQ:MACI) saw a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 1,202 shares, a decline of 18.3% from the March 31st total of 1,472 shares. Based on an average trading volume of 1,026 shares, the short-interest ratio is presently 1.2 days. Approximately 0.0% of the shares of the stock are short sold.

Institutional Trading of Melar Acquisition Corp. I

Several hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank lifted its stake in Melar Acquisition Corp. I by 11.0% in the fourth quarter. Toronto Dominion Bank now owns 133,198 shares of the company’s stock worth $1,416,000 after purchasing an additional 13,158 shares during the last quarter. Berkley W R Corp lifted its stake in Melar Acquisition Corp. I by 34.5% in the fourth quarter. Berkley W R Corp now owns 868,489 shares of the company’s stock worth $9,232,000 after purchasing an additional 222,669 shares during the last quarter. Crossingbridge Advisors LLC bought a new stake in Melar Acquisition Corp. I in the fourth quarter worth $2,245,000. L1 Global Manager Pty Ltd bought a new stake in Melar Acquisition Corp. I in the fourth quarter worth $3,561,000. Finally, ABC Arbitrage SA bought a new position in shares of Melar Acquisition Corp. I during the fourth quarter valued at about $213,000.

Melar Acquisition Corp. I Price Performance

Melar Acquisition Corp. I stock remained flat at $10.81 during mid-day trading on Friday. 836 shares of the company’s stock traded hands, compared to its average volume of 6,398. The business has a 50 day moving average of $10.76 and a 200 day moving average of $10.68. Melar Acquisition Corp. I has a 1-year low of $10.30 and a 1-year high of $10.97.

Melar Acquisition Corp. I (NASDAQ:MACI) last posted its quarterly earnings results on Friday, March 6th. The company reported $0.06 earnings per share for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

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.