B&R Technology Merger Corp. (NASDAQ:BRTMU) Sees Large Drop in Short Interest

B&R Technology Merger Corp. (NASDAQ:BRTMU) saw a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 569 shares, a drop of 48.8% from the July 30th total of 1,112 shares. Based on an average daily trading volume, of 93,420 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of B&R Technology Merger to a “hold” rating in a research report on Saturday, July 25th.

B&R Technology Merger Price Performance

Shares of NASDAQ BRTMU remained flat at $9.97 during midday trading on Friday. 4 shares of the stock were exchanged, compared to its average volume of 180,095. B&R Technology Merger has a 1 year low of $9.94 and a 1 year high of $10.00.

Institutional Trading of B&R Technology Merger

A hedge fund recently bought a new position in B&R Technology Merger stock. Bank of New York Mellon Corp purchased a new position in B&R Technology Merger Corp. (NASDAQ:BRTMU) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 143,241 shares of the company’s stock, valued at approximately $2,495,000.

About B&R Technology Merger

We are a blank check company incorporated as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.