Miluna Acquisition Corp (NASDAQ:MMTX) Sees Large Decline in Short Interest

Miluna Acquisition Corp (NASDAQ:MMTX) was the target of a significant decline in short interest in the month of October. As of October 15th, there was short interest totaling 761 shares, a decline of 33.5% from the September 30th total of 1,144 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 13,946 shares, the short-interest ratio is currently 0.1 days.

Miluna Acquisition Stock Performance

NASDAQ MMTX traded up $0.01 during midday trading on Tuesday, hitting $10.28. The company had a trading volume of 25,098 shares, compared to its average volume of 37,400. The firm has a market cap of $90.75 million and a PE ratio of 9,790.48. The stock has a fifty day moving average of $10.22. Miluna Acquisition has a fifty-two week low of $9.88 and a fifty-two week high of $10.27.

Institutional Investors Weigh In On Miluna Acquisition

Several hedge funds have recently made changes to their positions in MMTX. Sona Asset Management US LLC acquired a new stake in Miluna Acquisition during the first quarter worth about $1,177,000. Polar Asset Management Partners Inc. bought a new position in Miluna Acquisition during the first quarter valued at about $3,704,000. Finally, Whitebox Advisors LLC acquired a new position in Miluna Acquisition in the 1st quarter valued at approximately $4,004,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Miluna Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Sell rating. According to MarketBeat, the stock presently has an average rating of “Sell”.

About Miluna Acquisition

Miluna Acquisition Corporation (NASDAQ: MMTX) is a special purpose acquisition company, or SPAC. Rather than operating a conventional business that sells products or services, the company was formed to pursue a merger, acquisition, or similar business combination with one or more operating companies.

Miluna Acquisition’s activities are primarily focused on identifying and evaluating potential acquisition targets, negotiating transaction terms, and completing a business combination. Until such a transaction is completed, the company generally does not have significant operating activities, commercial products, or established geographic markets.

Information about Miluna Acquisition’s specific target industry, operating subsidiaries, products, geographic presence, and leadership is limited.