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

Melar Acquisition Corp. I (NASDAQ:MACI) saw a large increase in short interest in 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. Approximately 0.1% of the company’s stock are short sold.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Melar Acquisition Corp. I

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC grew its position 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 buying an additional 102,361 shares in the last quarter. Berkley W R Corp grew 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 during the last quarter. L1 Global Manager Pty Ltd bought a new stake in shares of Melar Acquisition Corp. I in the 4th quarter worth approximately $3,561,000. Radcliffe Capital Management L.P. bought a new stake in shares of Melar Acquisition Corp. I in the 2nd quarter worth approximately $3,094,000. Finally, Crossingbridge Advisors LLC acquired a new stake in Melar Acquisition Corp. I during the fourth quarter valued at approximately $2,245,000.

Melar Acquisition Corp. I Trading Up 0.2%

Shares of NASDAQ MACI traded up $0.02 during midday trading on Wednesday, hitting $10.97. The company’s stock had a trading volume of 106 shares, compared to its average volume of 16,466. Melar Acquisition Corp. I has a 1-year low of $10.50 and a 1-year high of $11.38. The firm’s fifty day moving average price is $10.94 and its 200-day moving average price is $10.85.

Melar Acquisition Corp. I (NASDAQ:MACI) last issued its earnings results on Thursday, August 13th. The company reported $0.04 EPS for the 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.