Melar Acquisition Corp. I (NASDAQ:MACI) Short Interest Update

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 5,317 shares, a growth of 551.6% from the July 15th total of 816 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 1,289 shares, the days-to-cover ratio is presently 4.1 days.

Hedge Funds Weigh In On Melar Acquisition Corp. I

Several hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in Melar Acquisition Corp. I by 11.0% in the fourth quarter. Toronto Dominion Bank now owns 133,198 shares of the company’s stock valued at $1,416,000 after purchasing an additional 13,158 shares during the period. ABC Arbitrage SA acquired a new stake in shares of Melar Acquisition Corp. I during the fourth quarter worth about $213,000. Sandia Investment Management LP acquired a new stake in shares of Melar Acquisition Corp. I during the third quarter worth about $249,000. Quarry LP purchased a new position in shares of Melar Acquisition Corp. I during the third quarter worth about $249,000. Finally, Wolverine Asset Management LLC grew its holdings in shares of Melar Acquisition Corp. I by 11.1% during the fourth quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company’s stock worth $10,935,000 after buying an additional 102,361 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Melar Acquisition Corp. I Stock Up 0.2%

NASDAQ MACI traded up $0.02 during trading on Wednesday, reaching $10.94. 533 shares of the company’s stock were exchanged, compared to its average volume of 17,687. Melar Acquisition Corp. I has a 1 year low of $10.47 and a 1 year high of $11.38. The company has a 50 day moving average price of $10.90 and a two-hundred day moving average price of $10.82.

Melar Acquisition Corp. I (NASDAQ:MACI) last posted its earnings results on Thursday, May 14th. The company reported $0.04 EPS for the 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.