Melar Acquisition Corp. I (NASDAQ:MACI) Short Interest Up 60.9% in August

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 8,556 shares, a growth of 60.9% from the July 30th total of 5,317 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 366 shares, the short-interest ratio is presently 23.4 days.

Wall Street Analyst Weigh In

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

Melar Acquisition Corp. I Trading Down 0.4%

Shares of MACI stock traded down $0.04 during trading hours on Monday, hitting $10.95. 470 shares of the company’s stock were exchanged, compared to its average volume of 16,608. Melar Acquisition Corp. I has a fifty-two week low of $10.50 and a fifty-two week high of $11.38. The firm has a 50 day moving average of $10.93 and a two-hundred day moving average of $10.84.

Melar Acquisition Corp. I (NASDAQ:MACI) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.04 earnings per share for the quarter.

Institutional Investors Weigh In On Melar Acquisition Corp. I

Several large investors have recently bought and sold shares of the company. ABC Arbitrage SA purchased a new position in shares of Melar Acquisition Corp. I in the fourth quarter valued at approximately $213,000. Sandia Investment Management LP acquired a new position in Melar Acquisition Corp. I in the 3rd quarter valued at $249,000. Quarry LP purchased a new position in Melar Acquisition Corp. I in the 3rd quarter valued at $249,000. Toronto Dominion Bank lifted 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 purchasing an additional 13,158 shares in the last quarter. Finally, Crossingbridge Advisors LLC acquired a new stake in Melar Acquisition Corp. I during the 4th quarter worth $2,245,000.

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.