North Atlantic Acquisition Co. (NASDAQ:NAAC) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 86,500 shares, an increase of 224.0% from the October 31st total of 26,700 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 88,000 shares, the short-interest ratio is presently 1.0 days.
Shares of NASDAQ NAAC opened at $9.75 on Friday. The stock has a fifty day simple moving average of $9.75 and a two-hundred day simple moving average of $9.73. North Atlantic Acquisition has a 1-year low of $9.50 and a 1-year high of $9.99.
A number of hedge funds and other institutional investors have recently made changes to their positions in NAAC. Linden Advisors LP bought a new position in North Atlantic Acquisition during the second quarter valued at $28,142,000. Highbridge Capital Management LLC boosted its holdings in shares of North Atlantic Acquisition by 98.8% in the second quarter. Highbridge Capital Management LLC now owns 1,987,679 shares of the company’s stock worth $19,320,000 after acquiring an additional 987,680 shares during the period. Marshall Wace LLP boosted its holdings in shares of North Atlantic Acquisition by 103.1% in the third quarter. Marshall Wace LLP now owns 1,821,129 shares of the company’s stock worth $17,774,000 after acquiring an additional 924,261 shares during the period. Periscope Capital Inc. boosted its holdings in shares of North Atlantic Acquisition by 1,776.4% in the second quarter. Periscope Capital Inc. now owns 844,400 shares of the company’s stock worth $8,208,000 after acquiring an additional 799,400 shares during the period. Finally, LMR Partners LLP bought a new position in shares of North Atlantic Acquisition in the second quarter worth $7,290,000. 53.97% of the stock is owned by institutional investors and hedge funds.
North Atlantic Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.
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