Melar Acquisition Corp. I (NASDAQ:MACI) Short Interest Up 551.6% in July

Melar Acquisition Corp. I (NASDAQ:MACI) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 5,317 shares, a growth of 551.6% from the July 15th total of 816 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 1,289 shares, the short-interest ratio is presently 4.1 days.

Hedge Funds Weigh In On Melar Acquisition Corp. I

Several hedge funds and other institutional investors have recently modified their holdings of the business. Radcliffe Capital Management L.P. bought a new stake in shares of Melar Acquisition Corp. I during the 2nd quarter worth $3,094,000. Sandia Investment Management LP bought a new position in Melar Acquisition Corp. I in the third quarter valued at about $249,000. Quarry LP bought a new position in Melar Acquisition Corp. I in the third quarter valued at about $249,000. Wolverine Asset Management LLC raised its stake in Melar Acquisition Corp. I by 11.1% during the fourth quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company’s stock worth $10,935,000 after acquiring an additional 102,361 shares in the last quarter. Finally, ABC Arbitrage SA bought a new position in shares of Melar Acquisition Corp. I in the fourth quarter worth about $213,000.

Melar Acquisition Corp. I Stock Up 0.2%

Shares of Melar Acquisition Corp. I stock opened at $10.96 on Friday. The company has a 50 day moving average of $10.90 and a 200-day moving average of $10.82. Melar Acquisition Corp. I has a 1-year low of $10.47 and a 1-year high of $11.38.

Melar Acquisition Corp. I (NASDAQ:MACI) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.04 earnings per share (EPS) for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus 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.