Melar Acquisition Corp. I (NASDAQ:MACI) Shares Up 0.2% – Here’s Why

Shares of Melar Acquisition Corp. I (NASDAQ:MACI) rose 0.2% on Thursday . The stock traded as high as $10.89 and last traded at $10.9150. 108 shares were traded during trading, a decline of 19% from the average daily volume of 133 shares. The stock had previously closed at $10.89.

Wall Street Analysts Forecast Growth

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

Melar Acquisition Corp. I Stock Performance

The business’s 50 day moving average price is $10.87 and its 200 day moving average price is $10.77.

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

Hedge Funds Weigh In On Melar Acquisition Corp. I

Hedge funds and other institutional investors have recently made changes to their positions in the company. Berkley W R Corp increased its position in shares of Melar Acquisition Corp. I by 99.7% during the third quarter. Berkley W R Corp now owns 645,820 shares of the company’s stock worth $6,781,000 after purchasing an additional 322,372 shares in the last quarter. Wolverine Asset Management LLC lifted 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 valued at $10,935,000 after purchasing an additional 102,361 shares in the last quarter. Radcliffe Capital Management L.P. lifted its holdings in Melar Acquisition Corp. I by 45.0% in the 3rd 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 in the last quarter. L1 Global Manager Pty Ltd acquired a new stake in Melar Acquisition Corp. I during the 4th quarter worth $3,561,000. Finally, Toronto Dominion Bank boosted its stake in Melar Acquisition Corp. I by 11.0% during the 4th 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.

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.