Short Interest in Melar Acquisition Corp. I (NASDAQ:MACI) Declines By 31.3%

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a large drop in short interest during 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 volume of 37,540 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

Hedge Funds Weigh In On Melar Acquisition Corp. I

Several institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC grew its position in shares of Melar Acquisition Corp. I by 137.5% during the 3rd quarter. Wolverine Asset Management LLC now owns 926,328 shares of the company’s stock valued at $9,726,000 after acquiring an additional 536,276 shares during the period. L1 Global Manager Pty Ltd bought a new position in Melar Acquisition Corp. I in the 4th quarter worth $3,561,000. Berkley W R Corp grew its holdings in Melar Acquisition Corp. I by 99.7% during the third quarter. Berkley W R Corp now owns 645,820 shares of the company’s stock valued at $6,781,000 after purchasing an additional 322,372 shares during the period. Radcliffe Capital Management L.P. purchased a new stake in Melar Acquisition Corp. I in the second quarter worth about $3,094,000. Finally, Crossingbridge Advisors LLC purchased a new position in shares of Melar Acquisition Corp. I during the 4th quarter valued at about $2,245,000.

Melar Acquisition Corp. I Stock Performance

Shares of Melar Acquisition Corp. I stock opened at $10.79 on Tuesday. Melar Acquisition Corp. I has a twelve month low of $10.19 and a twelve month high of $10.97. The company’s 50 day moving average is $10.74 and its 200 day moving average is $10.66.

Melar Acquisition Corp. I (NASDAQ:MACI) last announced its earnings results on Friday, March 6th. The company reported $0.06 earnings per share for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

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.