Short Interest in Melar Acquisition Corp. I (NASDAQ:MACI) Grows By 19.6%

Melar Acquisition Corp. I (NASDAQ:MACI) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 1,634 shares, an increase of 19.6% from the January 29th total of 1,366 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 6,240 shares, the short-interest ratio is presently 0.3 days. Based on an average daily trading volume, of 6,240 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Melar Acquisition Corp. I

Several hedge funds have recently modified their holdings of MACI. Toronto Dominion Bank increased its stake in Melar Acquisition Corp. I by 11.0% in the 4th quarter. Toronto Dominion Bank now owns 133,198 shares of the company’s stock valued at $1,416,000 after buying an additional 13,158 shares during the period. BCK Capital Management LP boosted its holdings in shares of Melar Acquisition Corp. I by 37.7% in the third quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock valued at $723,000 after acquiring an additional 18,874 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of Melar Acquisition Corp. I during the fourth quarter worth about $213,000. Quarry LP acquired a new position in shares of Melar Acquisition Corp. I during the third quarter worth about $249,000. Finally, Sandia Investment Management LP purchased a new position in Melar Acquisition Corp. I during the third quarter worth about $249,000.

Melar Acquisition Corp. I Price Performance

MACI stock remained flat at $10.73 during trading on Thursday. The company had a trading volume of 7,404 shares, compared to its average volume of 11,584. The company has a fifty day simple moving average of $10.68 and a 200-day simple moving average of $10.62. Melar Acquisition Corp. I has a 1 year low of $10.19 and a 1 year high of $10.97.

About Melar Acquisition Corp. I

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.