Melar Acquisition Corp. I (NASDAQ:MACI) Short Interest Update

Melar Acquisition Corp. I (NASDAQ:MACI) saw a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 2,144 shares, an increase of 29.2% from the February 26th total of 1,659 shares. Based on an average daily volume of 29,651 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Meteora Capital LLC acquired a new stake in Melar Acquisition Corp. I during the second quarter worth about $11,669,000. Radcliffe Capital Management L.P. acquired a new position in Melar Acquisition Corp. I in the 2nd quarter valued at about $3,094,000. Wolverine Asset Management LLC grew its stake in shares of Melar Acquisition Corp. I by 137.5% in the 3rd quarter. Wolverine Asset Management LLC now owns 926,328 shares of the company’s stock valued at $9,726,000 after buying an additional 536,276 shares during the period. BCK Capital Management LP grew its stake in shares of Melar Acquisition Corp. I by 37.7% in the 3rd quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock valued at $723,000 after buying an additional 18,874 shares during the period. Finally, Sandia Investment Management LP acquired a new stake in shares of Melar Acquisition Corp. I during the 3rd quarter worth approximately $249,000.

Melar Acquisition Corp. I Stock Performance

Melar Acquisition Corp. I stock traded up $0.02 during trading on Friday, reaching $10.77. 14,251 shares of the company were exchanged, compared to its average volume of 36,429. The stock’s 50 day simple moving average is $10.72 and its two-hundred day simple moving average is $10.65. Melar Acquisition Corp. I has a 52-week low of $10.19 and a 52-week high of $10.97.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average 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.