Melar Acquisition Corp. I (NASDAQ:MACI) Short Interest Down 23.9% in December

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 1,645 shares, a drop of 23.9% from the December 15th total of 2,161 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 13,625 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 13,625 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Magnetar Financial LLC purchased a new position in shares of Melar Acquisition Corp. I in the second quarter valued at approximately $3,861,000. Wolverine Asset Management LLC raised its stake in Melar Acquisition Corp. I by 137.5% in the 3rd quarter. Wolverine Asset Management LLC now owns 926,328 shares of the company’s stock valued at $9,726,000 after purchasing an additional 536,276 shares during the last quarter. Wealthspring Capital LLC lifted its holdings in Melar Acquisition Corp. I by 181.7% in the 2nd quarter. Wealthspring Capital LLC now owns 459,235 shares of the company’s stock valued at $4,827,000 after purchasing an additional 296,185 shares in the last quarter. Meteora Capital LLC acquired a new stake in Melar Acquisition Corp. I during the 2nd quarter worth $11,669,000. Finally, BCK Capital Management LP purchased a new stake in shares of Melar Acquisition Corp. I during the second quarter worth $526,000.

Melar Acquisition Corp. I Stock Up 0.1%

MACI traded up $0.01 during trading on Friday, hitting $10.70. The company’s stock had a trading volume of 4,980 shares, compared to its average volume of 8,662. Melar Acquisition Corp. I has a twelve month low of $10.11 and a twelve month high of $10.97. The business’s fifty day simple moving average is $10.61 and its 200 day simple moving average is $10.57.

Melar Acquisition Corp. I (NASDAQ:MACI) last announced its earnings results on Friday, November 14th. The company reported $0.05 earnings per share (EPS) for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

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.