Melar Acquisition Corp. I (NASDAQ:MACI) Sees Large Growth in Short Interest

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a significant growth in short interest in August. As of August 14th, there was short interest totaling 8,556 shares, a growth of 60.9% from the July 30th total of 5,317 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 366 shares, the short-interest ratio is presently 23.4 days.

Wall Street Analysts Forecast Growth

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.com, Melar Acquisition Corp. I currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Berkley W R Corp raised its holdings in shares of Melar Acquisition Corp. I by 15.0% in the first quarter. Berkley W R Corp now owns 998,963 shares of the company’s stock valued at $10,759,000 after buying an additional 130,474 shares during the last quarter. Toronto Dominion Bank increased its position 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 acquiring an additional 13,158 shares during the period. Crossingbridge Advisors LLC acquired a new position in Melar Acquisition Corp. I in the 4th quarter valued at about $2,245,000. L1 Global Manager Pty Ltd purchased a new stake in Melar Acquisition Corp. I during the 4th quarter valued at approximately $3,561,000. Finally, ABC Arbitrage SA acquired a new stake in Melar Acquisition Corp. I during the 4th quarter worth approximately $213,000.

Melar Acquisition Corp. I Trading Down 0.4%

MACI traded down $0.04 on Monday, hitting $10.95. 470 shares of the company were exchanged, compared to its average volume of 16,608. Melar Acquisition Corp. I has a twelve month low of $10.50 and a twelve month high of $11.38. The firm has a 50-day moving average price of $10.93 and a two-hundred day moving average price of $10.84.

Melar Acquisition Corp. I (NASDAQ:MACI) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.04 EPS for the quarter.

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.