Trident Acquisitions Corp. (NASDAQ:TDAC) Short Interest Update


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Trident Acquisitions Corp. (NASDAQ:TDAC) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 73,200 shares, a growth of 128.0% from the December 15th total of 32,100 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 317,900 shares, the short-interest ratio is currently 0.2 days.

In related news, major shareholder Glazer Capital, Llc sold 723,775 shares of Trident Acquisitions stock in a transaction dated Tuesday, December 1st. The shares were sold at an average price of $12.67, for a total transaction of $9,170,229.25. Company insiders own 25.30% of the company’s stock.

An institutional investor recently raised its position in Trident Acquisitions stock. Glazer Capital LLC grew its stake in Trident Acquisitions Corp. (NASDAQ:TDAC) by 353.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,620,609 shares of the company’s stock after acquiring an additional 1,263,567 shares during the period. Glazer Capital LLC owned 12.86% of Trident Acquisitions worth $17,705,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors own 50.51% of the company’s stock.

Shares of TDAC stock opened at $12.25 on Thursday. Trident Acquisitions has a 12-month low of $10.30 and a 12-month high of $14.30. The company’s 50-day moving average price is $12.29.

Trident Acquisitions (NASDAQ:TDAC) last announced its quarterly earnings results on Monday, November 16th. The company reported ($0.05) earnings per share (EPS) for the quarter.

Trident Acquisitions Company Profile

Trident Acquisitions Corp. does not have significant operations. It intends to enter into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more target businesses primarily in the oil and gas or other natural resource sector.

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