Melar Acquisition Corp. I (NASDAQ:MACI) Sees Significant Growth in Short Interest

Melar Acquisition Corp. I (NASDAQ:MACI) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 1,634 shares, a growth of 19.6% from the January 29th total of 1,366 shares. Based on an average trading volume of 6,240 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.0% of the company’s shares are sold short. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 6,240 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Investors Weigh In On Melar Acquisition Corp. I

Institutional investors and hedge funds have recently made changes to their positions in the business. Toronto Dominion Bank raised its position 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 worth $1,416,000 after acquiring an additional 13,158 shares in the last quarter. Berkley W R Corp grew its stake in shares of Melar Acquisition Corp. I by 34.5% during the 4th quarter. Berkley W R Corp now owns 868,489 shares of the company’s stock worth $9,232,000 after purchasing an additional 222,669 shares during the period. Crossingbridge Advisors LLC purchased a new position in shares of Melar Acquisition Corp. I in the 4th quarter valued at about $2,245,000. L1 Global Manager Pty Ltd purchased a new position in shares of Melar Acquisition Corp. I in the 4th quarter valued at about $3,561,000. Finally, ABC Arbitrage SA acquired a new stake in shares of Melar Acquisition Corp. I in the fourth quarter valued at about $213,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Melar Acquisition Corp. I Price Performance

NASDAQ:MACI remained flat at $10.73 during midday trading on Wednesday. 13,663 shares of the company traded hands, compared to its average volume of 11,685. Melar Acquisition Corp. I has a 12-month low of $10.19 and a 12-month high of $10.97. The stock has a fifty day moving average of $10.68 and a two-hundred day moving average of $10.62.

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.