Melar Acquisition Corp. I (NASDAQ:MACI) Releases Quarterly Earnings Results

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

Melar Acquisition Corp. I Stock Up 0.4%

Shares of Melar Acquisition Corp. I stock traded up $0.04 during trading hours on Friday, hitting $10.97. 1,301 shares of the company’s stock traded hands, compared to its average volume of 1,084. The stock has a 50 day simple moving average of $10.91 and a 200-day simple moving average of $10.82. Melar Acquisition Corp. I has a twelve month low of $10.47 and a twelve month high of $11.38.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Berkley W R Corp raised its position in shares of Melar Acquisition Corp. I by 15.0% in the 1st quarter. Berkley W R Corp now owns 998,963 shares of the company’s stock valued at $10,759,000 after purchasing an additional 130,474 shares in the last quarter. Toronto Dominion Bank grew its position in shares of Melar Acquisition Corp. I by 11.0% during the fourth quarter. Toronto Dominion Bank now owns 133,198 shares of the company’s stock worth $1,416,000 after buying an additional 13,158 shares in the last quarter. Crossingbridge Advisors LLC bought a new stake in shares of Melar Acquisition Corp. I in the fourth quarter worth $2,245,000. L1 Global Manager Pty Ltd bought a new stake in shares of Melar Acquisition Corp. I in the fourth quarter worth $3,561,000. Finally, ABC Arbitrage SA acquired a new stake in Melar Acquisition Corp. I in the fourth quarter valued at $213,000.

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.