Amanat Acquisition Corp. (NASDAQ:AMAN) Short Interest Up 1,365.2% in July

Amanat Acquisition Corp. (NASDAQ:AMAN) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 37,904 shares, a growth of 1,365.2% from the July 15th total of 2,587 shares. Currently, 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 50,452 shares, the short-interest ratio is presently 0.8 days.

Amanat Acquisition Trading Up 1.3%

NASDAQ:AMAN opened at $10.40 on Wednesday. The company has a 50-day moving average price of $10.15. Amanat Acquisition has a 1-year low of $9.98 and a 1-year high of $10.70.

Analyst Ratings Changes

Separately, Wall Street Zen raised Amanat Acquisition to a “hold” rating in a research note on Saturday, May 23rd.

Amanat Acquisition Company Profile

Amanat Acquisition Corp. is a special purpose acquisition company, or SPAC, formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Like other SPACs, its purpose is to identify and complete a transaction with an operating company rather than to run a traditional commercial business of its own.

The company was organized to pursue acquisition opportunities, but detailed public information about an operating business, product lineup, or end-market services is limited because its primary function is to serve as a vehicle for a future business combination.