ARC Group Acquisition I Corp (NASDAQ:ARCL) Shares Shorted: Short Interest Down 44.3% in September

ARC Group Acquisition I Corp (NASDAQ:ARCL) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 5,372 shares, a decrease of 44.3% from the September 15th total of 9,650 shares. Based on an average daily volume of 28,034 shares, the days-to-cover ratio is presently 0.2 days.

ARC Group Acquisition I Stock Up 0.6%

NASDAQ ARCL traded up $0.06 during mid-day trading on Thursday, reaching $10.04. 306 shares of the stock were exchanged, compared to its average volume of 56,180. ARC Group Acquisition I has a one year low of $9.85 and a one year high of $10.02. The company has a 50 day moving average of $9.99.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings began coverage on shares of ARC Group Acquisition I in a report on Monday, August 24th. They set a “sell (e)” rating for the company. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

About ARC Group Acquisition I

ARC Group Acquisition I is a special purpose acquisition company (SPAC) organized to identify and complete a business combination with one or more operating companies. Its potential transaction could take the form of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar corporate combination.

Unlike an operating company, ARC Group Acquisition I does not have established products, services or revenue-generating business operations of its own. Its activities primarily involve evaluating potential acquisition targets and pursuing a transaction intended to create a publicly traded operating business.