BYTE Acquisition Corp. (NASDAQ:BYTS) Sees Large Increase in Short Interest

BYTE Acquisition Corp. (NASDAQ:BYTSGet Rating) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 6,300 shares, an increase of 125.0% from the March 31st total of 2,800 shares. Based on an average daily volume of 5,900 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.0% of the shares of the stock are sold short.

Shares of BYTS stock opened at $9.81 on Friday. BYTE Acquisition has a 1 year low of $9.60 and a 1 year high of $10.11. The business’s fifty day moving average is $9.76 and its 200-day moving average is $9.75.

Several hedge funds and other institutional investors have recently modified their holdings of BYTS. Macquarie Group Ltd. acquired a new position in shares of BYTE Acquisition in the 3rd quarter worth $17,028,000. Sculptor Capital LP grew its holdings in shares of BYTE Acquisition by 96.5% in the 3rd quarter. Sculptor Capital LP now owns 1,374,200 shares of the company’s stock worth $13,344,000 after acquiring an additional 675,000 shares during the last quarter. Castle Creek Arbitrage LLC acquired a new position in shares of BYTE Acquisition in the 3rd quarter worth $2,849,000. D. E. Shaw & Co. Inc. grew its holdings in shares of BYTE Acquisition by 246.3% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 232,007 shares of the company’s stock worth $2,271,000 after acquiring an additional 165,020 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of BYTE Acquisition in the 3rd quarter worth $1,461,000. Institutional investors and hedge funds own 61.91% of the company’s stock.

About BYTE Acquisition (Get Rating)

BYTE Acquisition Corp. focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus its search for targets in the Israeli technology industry, including cybersecurity, automotive technology, fintech, enterprise software, cloud computing, semiconductors, medical technology, artificial intelligence, and robotics that offer technology platform and products.

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