AMCI Acquisition Corp. (NASDAQ:AMCI) Sees Significant Decline in Short Interest

AMCI Acquisition Corp. (NASDAQ:AMCI) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totaling 51,068 shares, a decrease of 39.5% from the May 31st total of 84,443 shares. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 66,699 shares, the days-to-cover ratio is presently 0.8 days.

AMCI Acquisition Stock Performance

NASDAQ:AMCI traded down $0.05 during trading hours on Thursday, reaching $5.16. The company’s stock had a trading volume of 32,273 shares, compared to its average volume of 106,635. The firm has a market capitalization of $116.62 million, a price-to-earnings ratio of 516.00 and a beta of 0.23. The firm has a 50-day simple moving average of $5.19 and a 200-day simple moving average of $6.30. AMCI Acquisition has a 1 year low of $2.50 and a 1 year high of $42.00.

AMCI Acquisition (NASDAQ:AMCI) last posted its quarterly earnings results on Monday, April 20th. The company reported ($1.64) earnings per share (EPS) for the quarter. The business had revenue of $1.29 million for the quarter.

Analyst Upgrades and Downgrades

AMCI has been the topic of a number of research reports. Weiss Ratings cut AMCI Acquisition from a “sell (d)” rating to a “sell (e+)” rating in a report on Friday, April 24th. Wall Street Zen raised AMCI Acquisition from a “strong sell” rating to a “hold” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On AMCI Acquisition

Several institutional investors have recently bought and sold shares of the stock. Harraden Circle Investments LLC purchased a new position in AMCI Acquisition in the 4th quarter worth approximately $1,115,000. DLD Asset Management LP bought a new position in shares of AMCI Acquisition in the fourth quarter worth approximately $84,000. Finally, Themes Management Co LLC purchased a new position in shares of AMCI Acquisition in the first quarter worth $213,000. 46.08% of the stock is currently owned by hedge funds and other institutional investors.

About AMCI Acquisition

AMCI Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses operating in the natural resource infrastructure, value chain, and logistics-related sectors. The company was founded in 2018 and is based in Latrobe, Pennsylvania.