North Atlantic Acquisition Co. (NASDAQ:NAAC) Sees Large Increase in Short Interest

North Atlantic Acquisition Co. (NASDAQ:NAACGet Rating) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 219,300 shares, a growth of 6,165.7% from the April 15th total of 3,500 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 114,800 shares, the days-to-cover ratio is presently 1.9 days.

Shares of NAAC stock traded down $0.02 on Wednesday, reaching $9.93. 1,100 shares of the company were exchanged, compared to its average volume of 149,503. The company has a 50-day moving average of $9.88 and a 200-day moving average of $9.83. North Atlantic Acquisition has a one year low of $9.50 and a one year high of $9.96.

A number of hedge funds and other institutional investors have recently made changes to their positions in NAAC. Wells Fargo & Company MN lifted its position in North Atlantic Acquisition by 13.7% in the 2nd quarter. Wells Fargo & Company MN now owns 13,540 shares of the company’s stock valued at $132,000 after acquiring an additional 1,636 shares in the last quarter. Geode Capital Management LLC increased its stake in North Atlantic Acquisition by 43.8% in the 3rd quarter. Geode Capital Management LLC now owns 14,984 shares of the company’s stock valued at $146,000 after buying an additional 4,567 shares during the last quarter. DeepCurrents Investment Group LLC purchased a new stake in North Atlantic Acquisition in the 4th quarter valued at about $174,000. Owl Creek Asset Management L.P. purchased a new stake in North Atlantic Acquisition in the 4th quarter valued at about $197,000. Finally, Graham Capital Wealth Management LLC purchased a new stake in North Atlantic Acquisition in the 4th quarter valued at about $205,000. 67.60% of the stock is currently owned by institutional investors and hedge funds.

About North Atlantic Acquisition (Get Rating)

North Atlantic Acquisition Corporation does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on the consumer, industrials, and telecommunications industries in Europe and North America.

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