Metals Acquisition Corp (NYSE:MTAL – Get Rating) saw a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 15,700 shares, a drop of 43.7% from the April 30th total of 27,900 shares. Based on an average daily volume of 132,200 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s shares are short sold.
Metals Acquisition stock traded up $0.03 during trading hours on Friday, hitting $9.88. 2,928 shares of the stock traded hands, compared to its average volume of 129,972. The firm’s 50-day moving average price is $9.93 and its two-hundred day moving average price is $9.77. Metals Acquisition has a one year low of $9.57 and a one year high of $10.15.
A number of institutional investors have recently bought and sold shares of the business. Lynwood Capital Management Inc. bought a new stake in Metals Acquisition during the 1st quarter valued at approximately $26,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Metals Acquisition during the 1st quarter valued at approximately $108,000. Tuttle Capital Management LLC boosted its position in Metals Acquisition by 33.3% during the 4th quarter. Tuttle Capital Management LLC now owns 160,816 shares of the company’s stock valued at $1,169,000 after acquiring an additional 40,204 shares in the last quarter. Citigroup Inc. boosted its position in Metals Acquisition by 26.3% during the 1st quarter. Citigroup Inc. now owns 300,001 shares of the company’s stock valued at $2,988,000 after acquiring an additional 62,500 shares in the last quarter. Finally, Berkley W R Corp bought a new stake in Metals Acquisition during the 3rd quarter valued at approximately $742,000. 69.27% of the stock is currently owned by institutional investors and hedge funds.
Metals Acquisition Corp does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus its search on metals and mining businesses. Metals Acquisition Corp was incorporated in 2021 and is based in Fort Worth, Texas.
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