Bannix Acquisition Corp. (NASDAQ:BNIX – Get Rating) was the recipient of a large growth in short interest in May. As of May 15th, there was short interest totalling 3,700 shares, a growth of 516.7% from the April 30th total of 600 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 2,600 shares, the short-interest ratio is presently 1.4 days.
Shares of BNIX remained flat at $$9.94 during trading hours on Wednesday. 2,500 shares of the stock were exchanged, compared to its average volume of 18,312. The firm has a 50 day moving average price of $9.91 and a two-hundred day moving average price of $9.86. Bannix Acquisition has a 52-week low of $9.77 and a 52-week high of $10.08.
Institutional investors and hedge funds have recently made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Bannix Acquisition during the fourth quarter worth about $645,000. Wolverine Asset Management LLC bought a new stake in Bannix Acquisition during the fourth quarter worth about $2,873,000. Context Capital Management LLC bought a new stake in Bannix Acquisition during the fourth quarter worth about $3,600,000. Yakira Capital Management Inc. bought a new stake in Bannix Acquisition during the fourth quarter worth about $2,943,000. Finally, Mint Tower Capital Management B.V. bought a new stake in Bannix Acquisition during the fourth quarter worth about $981,000. 67.37% of the stock is currently owned by hedge funds and other institutional investors.
Bannix Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or related business combination with one or more businesses in the B2B enterprise software, telecom, financial, and retail industries.
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