Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH) Short Interest Update

Atlantic Coastal Acquisition Corp. (NASDAQ:ACAHGet Rating) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,130,000 shares, an increase of 61.7% from the March 15th total of 698,900 shares. Based on an average daily trading volume, of 77,000 shares, the days-to-cover ratio is currently 14.7 days. Currently, 3.3% of the company’s shares are short sold.

NASDAQ ACAH opened at $9.81 on Friday. Atlantic Coastal Acquisition has a fifty-two week low of $9.61 and a fifty-two week high of $9.99. The stock has a 50 day simple moving average of $9.76 and a two-hundred day simple moving average of $9.79.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ACAH. Magnetar Financial LLC purchased a new stake in Atlantic Coastal Acquisition in the 3rd quarter worth approximately $101,000. Robinson Capital Management LLC purchased a new stake in Atlantic Coastal Acquisition in the 3rd quarter worth approximately $101,000. Toroso Investments LLC purchased a new stake in Atlantic Coastal Acquisition in the 3rd quarter worth approximately $101,000. Wells Fargo & Company MN purchased a new stake in Atlantic Coastal Acquisition in the 2nd quarter worth approximately $104,000. Finally, Levin Capital Strategies L.P. purchased a new stake in Atlantic Coastal Acquisition in the 3rd quarter worth approximately $145,000. Institutional investors and hedge funds own 65.83% of the company’s stock.

Atlantic Coastal Acquisition Company Profile (Get Rating)

Atlantic Coastal Acquisition Corp. focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in San Francisco, California.

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