Melar Acquisition Corp. I (NASDAQ:MACI) Posts Earnings Results

Melar Acquisition Corp. I (NASDAQ:MACI) released its quarterly earnings data on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, FiscalAI reports.

Melar Acquisition Corp. I Trading Up 0.2%

MACI stock traded up $0.02 on Friday, reaching $10.85. 868 shares of the company were exchanged, compared to its average volume of 6,182. Melar Acquisition Corp. I has a 12 month low of $10.33 and a 12 month high of $10.97. The stock’s fifty day moving average price is $10.78 and its 200 day moving average price is $10.69.

Institutional Trading of Melar Acquisition Corp. I

A number of institutional investors and hedge funds have recently modified their holdings of the company. Radcliffe Capital Management L.P. bought a new stake in Melar Acquisition Corp. I in the second quarter valued at about $3,094,000. Wolverine Asset Management LLC raised its stake in Melar Acquisition Corp. I by 137.5% during the third quarter. Wolverine Asset Management LLC now owns 926,328 shares of the company’s stock worth $9,726,000 after acquiring an additional 536,276 shares in the last quarter. BCK Capital Management LP boosted its stake in shares of Melar Acquisition Corp. I by 37.7% in the 3rd quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock valued at $723,000 after purchasing an additional 18,874 shares in the last quarter. Sandia Investment Management LP acquired a new stake in shares of Melar Acquisition Corp. I during the 3rd quarter worth about $249,000. Finally, Berkley W R Corp increased its position in shares of Melar Acquisition Corp. I by 99.7% during the 3rd quarter. Berkley W R Corp now owns 645,820 shares of the company’s stock worth $6,781,000 after purchasing an additional 322,372 shares in the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Melar Acquisition Corp. I presently has an average rating of “Sell”.

Melar Acquisition Corp. I Company Profile

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.