Banner Acquisition Corp. (NASDAQ:BNNR) Sees Large Drop in Short Interest

Banner Acquisition Corp. (NASDAQ:BNNRGet Rating) saw a large drop in short interest in May. As of May 31st, there was short interest totalling 5,400 shares, a drop of 51.8% from the May 15th total of 11,200 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily volume of 32,500 shares, the short-interest ratio is currently 0.2 days.

Several institutional investors and hedge funds have recently made changes to their positions in BNNR. Cohanzick Management LLC boosted its holdings in shares of Banner Acquisition by 299.9% in the first quarter. Cohanzick Management LLC now owns 8,597 shares of the company’s stock worth $85,000 after buying an additional 6,447 shares during the period. Prelude Capital Management LLC acquired a new position in shares of Banner Acquisition in the first quarter worth about $612,000. Bank of America Corp DE acquired a new position in shares of Banner Acquisition in the first quarter worth about $2,856,000. Highbridge Capital Management LLC boosted its holdings in shares of Banner Acquisition by 32.8% in the first quarter. Highbridge Capital Management LLC now owns 789,366 shares of the company’s stock worth $7,775,000 after buying an additional 195,155 shares during the period. Finally, Sculptor Capital LP boosted its holdings in shares of Banner Acquisition by 285.7% in the first quarter. Sculptor Capital LP now owns 935,400 shares of the company’s stock worth $9,214,000 after buying an additional 692,898 shares during the period. Institutional investors own 67.02% of the company’s stock.

NASDAQ:BNNR opened at $9.87 on Friday. Banner Acquisition has a twelve month low of $9.50 and a twelve month high of $16.00. The firm’s 50-day simple moving average is $9.86.

About Banner Acquisition (Get Rating)

Banner 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. The company was incorporated in 2021 and is based in Lehi, Utah.

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