Melar Acquisition Corp. I (NASDAQ:MACI) Sees Large Increase in Short Interest

Melar Acquisition Corp. I (NASDAQ:MACI) was the recipient of a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 1,634 shares, a growth of 19.6% from the January 29th total of 1,366 shares. Based on an average daily volume of 6,240 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are short sold. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 6,240 shares, the short-interest ratio is currently 0.3 days.

Melar Acquisition Corp. I Price Performance

Shares of NASDAQ:MACI opened at $10.73 on Friday. Melar Acquisition Corp. I has a one year low of $10.19 and a one year high of $10.97. The firm has a 50 day simple moving average of $10.68 and a 200 day simple moving average of $10.62.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Melar Acquisition Corp. I

Hedge funds have recently modified their holdings of the company. ABC Arbitrage SA acquired a new position in Melar Acquisition Corp. I in the 4th quarter worth about $213,000. Quarry LP bought a new stake in shares of Melar Acquisition Corp. I during the third quarter worth about $249,000. Sandia Investment Management LP acquired a new position in shares of Melar Acquisition Corp. I in the third quarter valued at approximately $249,000. BCK Capital Management LP bought a new position in Melar Acquisition Corp. I in the 2nd quarter valued at approximately $526,000. Finally, Toronto Dominion Bank raised its holdings in Melar Acquisition Corp. I by 11.0% in the 4th quarter. Toronto Dominion Bank now owns 133,198 shares of the company’s stock valued at $1,416,000 after buying an additional 13,158 shares during the last quarter.

About Melar Acquisition Corp. I

Melar Acquisition Corp. I is a special purpose acquisition company (SPAC) incorporated in Delaware and listed on the NASDAQ under the symbol MACI. The company was formed to raise capital through an initial public offering and to identify, merge with or acquire one or more businesses with the goal of completing an initial business combination. As a blank check vehicle, Melar Acquisition Corp. I does not currently conduct operations of its own beyond the pursuit of a qualifying transaction.

Upon its IPO, Melar Acquisition Corp.