Mountain Crest Acquisition Corp. III (NASDAQ:MCAE) Sees Large Drop in Short Interest

Mountain Crest Acquisition Corp. III (NASDAQ:MCAEGet Rating) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 900 shares, a decrease of 59.1% from the April 30th total of 2,200 shares. Based on an average daily trading volume, of 11,600 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are short sold.

Several hedge funds have recently added to or reduced their stakes in MCAE. Goldman Sachs Group Inc. acquired a new position in Mountain Crest Acquisition Corp. III during the 3rd quarter worth approximately $199,000. Periscope Capital Inc. bought a new stake in shares of Mountain Crest Acquisition Corp. III in the 3rd quarter valued at approximately $2,454,000. Gabelli Funds LLC bought a new stake in shares of Mountain Crest Acquisition Corp. III in the 3rd quarter valued at approximately $1,222,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of Mountain Crest Acquisition Corp. III in the 3rd quarter valued at approximately $1,083,000. Finally, Berkley W R Corp grew its stake in Mountain Crest Acquisition Corp. III by 96.5% during the 3rd quarter. Berkley W R Corp now owns 242,983 shares of the company’s stock worth $2,385,000 after buying an additional 119,346 shares during the last quarter.

MCAE remained flat at $$9.82 during trading on Friday. The company’s stock had a trading volume of 1,100 shares, compared to its average volume of 38,146. The business has a fifty day simple moving average of $9.86 and a 200 day simple moving average of $9.89. Mountain Crest Acquisition Corp. III has a 52 week low of $9.37 and a 52 week high of $10.13.

Mountain Crest Acquisition Corp. III Company Profile (Get Rating)

Mountain Crest Acquisition Corp. III does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.

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