Melar Acquisition Corp. I (NASDAQ:MACI) Sees Large Decline in Short Interest

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 1,202 shares, a decline of 18.3% from the March 31st total of 1,472 shares. Based on an average daily trading volume, of 1,026 shares, the short-interest ratio is currently 1.2 days. Currently, 0.0% of the shares of the company are sold short.

Melar Acquisition Corp. I Stock Performance

Shares of NASDAQ MACI remained flat at $10.81 during midday trading on Friday. 836 shares of the stock traded hands, compared to its average volume of 6,398. Melar Acquisition Corp. I has a 1-year low of $10.30 and a 1-year high of $10.97. The business has a fifty day simple moving average of $10.76 and a two-hundred day simple moving average of $10.68.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MACI. Radcliffe Capital Management L.P. acquired a new position in Melar Acquisition Corp. I during the 2nd quarter valued at about $3,094,000. Wolverine Asset Management LLC boosted its stake in 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 purchasing an additional 536,276 shares during the period. BCK Capital Management LP boosted its stake in Melar Acquisition Corp. I by 37.7% during the 3rd quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock valued at $723,000 after purchasing an additional 18,874 shares during the period. Sandia Investment Management LP acquired a new position in Melar Acquisition Corp. I during the 3rd quarter valued at about $249,000. Finally, Berkley W R Corp boosted its stake in Melar Acquisition Corp. I by 99.7% during the 3rd 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.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About Melar Acquisition Corp. I

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.