AMCI Acquisition Corp. (NASDAQ:AMCI) Sees Large Growth in Short Interest

AMCI Acquisition Corp. (NASDAQ:AMCI) was the recipient of a large increase in short interest in August. As of August 31st, there was short interest totaling 44,014 shares, an increase of 165.7% from the August 15th total of 16,567 shares. Based on an average daily trading volume, of 179,997 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.3% of the shares of the stock are short sold.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wall Street Zen raised AMCI Acquisition from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings restated a “sell (e+)” rating on shares of AMCI Acquisition in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, AMCI Acquisition presently has an average rating of “Sell”.

AMCI Acquisition Stock Performance

AMCI opened at $3.28 on Friday. AMCI Acquisition has a 12 month low of $2.50 and a 12 month high of $42.00. The business has a 50-day moving average of $4.70 and a two-hundred day moving average of $5.44.

AMCI Acquisition (NASDAQ:AMCI) last issued its earnings results on Friday, August 14th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $0.94 million during the quarter.

Institutional Trading of AMCI Acquisition

A number of institutional investors have recently modified their holdings of the company. DLD Asset Management LP purchased a new position in AMCI Acquisition in the fourth quarter valued at approximately $84,000. Themes Management Co LLC acquired a new stake in shares of AMCI Acquisition in the first quarter worth $213,000. Finally, Harraden Circle Investments LLC acquired a new stake in shares of AMCI Acquisition in the fourth quarter worth $1,115,000. Hedge funds and other institutional investors own 46.08% of the company’s stock.

About AMCI Acquisition

AMCI Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses operating in the natural resource infrastructure, value chain, and logistics-related sectors. The company was founded in 2018 and is based in Latrobe, Pennsylvania.