Short Interest in Mountain Lake Acquisition Corp. (NASDAQ:MLAC) Increases By 13.2%

Mountain Lake Acquisition Corp. (NASDAQ:MLAC) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 213,848 shares, a growth of 13.2% from the March 31st total of 188,971 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 23,050 shares, the days-to-cover ratio is presently 9.3 days.

Hedge Funds Weigh In On Mountain Lake Acquisition

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. TENOR CAPITAL MANAGEMENT Co. L.P. boosted its stake in shares of Mountain Lake Acquisition by 300.0% in the 4th quarter. TENOR CAPITAL MANAGEMENT Co. L.P. now owns 2,000,000 shares of the company’s stock valued at $20,800,000 after buying an additional 1,500,000 shares during the period. Wolverine Asset Management LLC lifted its stake in Mountain Lake Acquisition by 5.7% during the third quarter. Wolverine Asset Management LLC now owns 1,642,711 shares of the company’s stock worth $16,920,000 after purchasing an additional 89,253 shares during the last quarter. Pantera Capital Partners LP purchased a new stake in Mountain Lake Acquisition during the fourth quarter worth approximately $7,800,000. Glazer Capital LLC lifted its stake in Mountain Lake Acquisition by 9.9% during the fourth quarter. Glazer Capital LLC now owns 686,692 shares of the company’s stock worth $7,142,000 after purchasing an additional 62,080 shares during the last quarter. Finally, Meteora Capital LLC purchased a new stake in Mountain Lake Acquisition during the fourth quarter worth approximately $6,025,000.

Mountain Lake Acquisition Stock Performance

Shares of MLAC remained flat at $10.57 during midday trading on Friday. The stock had a trading volume of 81,412 shares, compared to its average volume of 43,720. The company has a 50-day moving average price of $10.54 and a 200-day moving average price of $10.46. Mountain Lake Acquisition has a fifty-two week low of $10.12 and a fifty-two week high of $10.69.

Mountain Lake Acquisition (NASDAQ:MLAC) last announced its quarterly earnings data on Friday, February 20th. The company reported $0.07 earnings per share (EPS) for the quarter.

Mountain Lake Acquisition Company Profile

Malacca Straits Acquisition Company Limited does not have significant business. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media, food processing, renewable energy, and healthcare industries. The company was formerly known as Bilbao Street Limited and changed its name to Malacca Straits Acquisition Company Limited in February 2020. Malacca Straits Acquisition Company Limited was incorporated in 2019 and is based in Central, Hong Kong.