Zanite Acquisition Corp. (NASDAQ:ZNTE) Short Interest Up 95.7% in April

Zanite Acquisition Corp. (NASDAQ:ZNTEGet Rating) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totalling 738,600 shares, an increase of 95.7% from the April 15th total of 377,400 shares. Currently, 3.6% of the shares of the company are short sold. Based on an average daily volume of 210,300 shares, the short-interest ratio is presently 3.5 days.

Several hedge funds and other institutional investors have recently bought and sold shares of ZNTE. Morgan Stanley acquired a new stake in shares of Zanite Acquisition during the 1st quarter worth approximately $434,000. Cohanzick Management LLC bought a new stake in shares of Zanite Acquisition during the third quarter worth $1,640,000. Wolverine Asset Management LLC grew its stake in shares of Zanite Acquisition by 89.7% during the third quarter. Wolverine Asset Management LLC now owns 147,776 shares of the company’s stock worth $1,494,000 after buying an additional 69,872 shares during the last quarter. Periscope Capital Inc. grew its stake in shares of Zanite Acquisition by 22.9% during the third quarter. Periscope Capital Inc. now owns 295,034 shares of the company’s stock worth $2,983,000 after buying an additional 55,034 shares during the last quarter. Finally, Granby Capital Management LLC bought a new stake in shares of Zanite Acquisition during the third quarter worth $253,000. Institutional investors and hedge funds own 74.64% of the company’s stock.

NASDAQ ZNTE opened at $11.32 on Friday. The firm’s 50 day simple moving average is $10.31 and its 200 day simple moving average is $10.22. Zanite Acquisition has a 1 year low of $9.44 and a 1 year high of $11.50.

About Zanite Acquisition (Get Rating)

Zanite Acquisition Corp. 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 in the aviation, aerospace and defense, urban mobility, and emerging technology industries.

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