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

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a large growth in short interest in the month of 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 company’s shares are sold short. Based on an average trading volume of 1,289 shares, the short-interest ratio is currently 4.1 days.

Institutional Trading of Melar Acquisition Corp. I

Several hedge funds have recently bought and sold shares of the stock. Berkley W R Corp increased its position in shares of Melar Acquisition Corp. I by 15.0% during the first quarter. Berkley W R Corp now owns 998,963 shares of the company’s stock worth $10,759,000 after acquiring an additional 130,474 shares in the last quarter. Wolverine Asset Management LLC lifted its position in Melar Acquisition Corp. I by 11.1% in the 4th quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company’s stock valued at $10,935,000 after acquiring an additional 102,361 shares in the last quarter. L1 Global Manager Pty Ltd acquired a new position in Melar Acquisition Corp. I in the 4th quarter worth $3,561,000. Toronto Dominion Bank boosted 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 worth $1,416,000 after purchasing an additional 13,158 shares during the period. Finally, Crossingbridge Advisors LLC acquired a new position in Melar Acquisition Corp. I in the 4th quarter worth $2,245,000.

Melar Acquisition Corp. I Stock Up 0.2%

NASDAQ:MACI traded up $0.03 on Thursday, reaching $10.96. The company’s stock had a trading volume of 1,301 shares, compared to its average volume of 1,062. Melar Acquisition Corp. I has a 1-year low of $10.47 and a 1-year high of $11.38. The business’s 50-day moving average price is $10.90 and its two-hundred day moving average price is $10.82.

Melar Acquisition Corp. I (NASDAQ:MACI) last released its quarterly earnings results on Thursday, May 14th. The company reported $0.04 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Melar Acquisition Corp. I 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.