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

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

Melar Acquisition Corp. I Price Performance

Shares of NASDAQ MACI traded up $0.02 during mid-day trading on Friday, hitting $10.85. The company had a trading volume of 868 shares, compared to its average volume of 6,182. The firm has a 50-day simple moving average of $10.78 and a two-hundred day simple moving average of $10.69. Melar Acquisition Corp. I has a one year low of $10.33 and a one year high of $10.97.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Melar Acquisition Corp. I

Several hedge funds have recently modified their holdings of the stock. Berkley W R Corp grew its holdings 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 acquiring an additional 130,474 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of 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 in the last quarter. Crossingbridge Advisors LLC bought a new position in shares of Melar Acquisition Corp. I in the 4th quarter valued at about $2,245,000. L1 Global Manager Pty Ltd bought a new position in shares of Melar Acquisition Corp. I in the 4th quarter valued at about $3,561,000. Finally, ABC Arbitrage SA bought a new position in shares of Melar Acquisition Corp. I in the 4th quarter valued at about $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.