Short Interest in Mountain Crest Acquisition 6 Corp. Units (NASDAQ:MCAHU) Drops By 41.1%

Mountain Crest Acquisition 6 Corp. Units (NASDAQ:MCAHU) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 4,840 shares, a drop of 41.1% from the May 14th total of 8,222 shares. Based on an average daily volume of 10,843 shares, the short-interest ratio is currently 0.4 days.

Insiders Place Their Bets

In related news, CEO Suying Liu purchased 25,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were bought at an average price of $10.00 per share, with a total value of $250,000.00. Following the completion of the purchase, the chief executive officer directly owned 2,982,143 shares in the company, valued at approximately $29,821,430. This trade represents a 0.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Mountain Crest Acquisition 6 Corp. Units to a “hold” rating in a research note on Saturday, May 9th.

Mountain Crest Acquisition 6 Corp. Units Price Performance

Shares of MCAHU stock traded up $0.01 during mid-day trading on Monday, reaching $10.09. The company’s stock had a trading volume of 532 shares, compared to its average volume of 39,846. Mountain Crest Acquisition 6 Corp. Units has a 12-month low of $9.98 and a 12-month high of $10.12.