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

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 1,472 shares, a drop of 31.3% from the March 15th total of 2,144 shares. Based on an average daily trading volume, of 37,540 shares, the short-interest ratio is presently 0.0 days. Approximately 0.0% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Melar Acquisition Corp. I

A number of institutional investors have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new position in shares of Melar Acquisition Corp. I in the 4th quarter worth about $213,000. Sandia Investment Management LP purchased a new position in Melar Acquisition Corp. I in the third quarter worth about $249,000. Quarry LP bought a new position in shares of Melar Acquisition Corp. I in the third quarter worth approximately $249,000. BCK Capital Management LP grew its holdings in shares of Melar Acquisition Corp. I by 37.7% during the third quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock valued at $723,000 after buying an additional 18,874 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of Melar Acquisition Corp. I by 11.0% during the fourth quarter. Toronto Dominion Bank now owns 133,198 shares of the company’s stock valued at $1,416,000 after acquiring an additional 13,158 shares in the last quarter.

Melar Acquisition Corp. I Trading Up 0.0%

Shares of Melar Acquisition Corp. I stock opened at $10.79 on Tuesday. The company has a 50-day moving average of $10.74 and a 200 day moving average of $10.66. Melar Acquisition Corp. I has a 1 year low of $10.19 and a 1 year high of $10.97.

Melar Acquisition Corp. I (NASDAQ:MACI) last posted its quarterly earnings data on Friday, March 6th. The company reported $0.06 EPS for the quarter.

Melar Acquisition Corp. I Company Profile

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.