Wolverine Asset Management LLC Has $10.94 Million Stake in Melar Acquisition Corp. I $MACI

Wolverine Asset Management LLC lifted its position in shares of Melar Acquisition Corp. I (NASDAQ:MACI) by 11.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,028,689 shares of the company’s stock after purchasing an additional 102,361 shares during the quarter. Wolverine Asset Management LLC owned 5.07% of Melar Acquisition Corp. I worth $10,935,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Sandia Investment Management LP acquired a new position in shares of Melar Acquisition Corp. I during the third quarter worth approximately $249,000. Quarry LP acquired a new position in shares of Melar Acquisition Corp. I during the third quarter worth approximately $249,000. BCK Capital Management LP raised its position in shares of Melar Acquisition Corp. I by 37.7% during the third quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock worth $723,000 after purchasing an additional 18,874 shares during the period. Radcliffe Capital Management L.P. acquired a new position in shares of Melar Acquisition Corp. I during the second quarter worth approximately $3,094,000. Finally, Berkley W R Corp raised its position in shares of 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 worth $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 research report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Melar Acquisition Corp. I currently has an average rating of “Sell”.

Melar Acquisition Corp. I Stock Performance

Shares of Melar Acquisition Corp. I stock opened at $10.81 on Monday. The stock has a fifty day simple moving average of $10.76 and a 200 day simple moving average of $10.68. Melar Acquisition Corp. I has a 12-month low of $10.30 and a 12-month high of $10.97.

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

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.