Melar Acquisition Corp. I (NASDAQ:MACI) Sees Significant Drop in Short Interest

Melar Acquisition Corp. I (NASDAQ:MACI) saw a large decrease in short interest in December. As of December 31st, there was short interest totaling 1,645 shares, a decrease of 23.9% from the December 15th total of 2,161 shares. Based on an average trading volume of 13,625 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are short sold. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 13,625 shares, the short-interest ratio is presently 0.1 days.

Melar Acquisition Corp. I Trading Up 0.1%

MACI traded up $0.01 during trading hours on Friday, reaching $10.70. The company’s stock had a trading volume of 4,980 shares, compared to its average volume of 8,662. Melar Acquisition Corp. I has a fifty-two week low of $10.11 and a fifty-two week high of $10.97. The business’s 50-day moving average is $10.61 and its 200-day moving average is $10.57.

Melar Acquisition Corp. I (NASDAQ:MACI) last announced its quarterly earnings results on Friday, November 14th. The company reported $0.05 EPS for the quarter.

Institutional Investors Weigh In On Melar Acquisition Corp. I

Institutional investors and hedge funds have recently made changes to their positions in the stock. BCK Capital Management LP boosted its position in shares of 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 worth $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 third quarter worth $249,000. Quarry LP acquired a new position in Melar Acquisition Corp. I during the third quarter worth $249,000. Radcliffe Capital Management L.P. boosted its position in shares of Melar Acquisition Corp. I by 45.0% during the third quarter. Radcliffe Capital Management L.P. now owns 426,939 shares of the company’s stock worth $4,483,000 after buying an additional 132,564 shares during the period. Finally, Wealthspring Capital LLC grew its stake in shares of Melar Acquisition Corp. I by 181.7% in the second quarter. Wealthspring Capital LLC now owns 459,235 shares of the company’s stock valued at $4,827,000 after buying an additional 296,185 shares in the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Melar Acquisition Corp. I presently 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.