Melar Acquisition Corp. I (NASDAQ:MACI) Short Interest Up 29.2% in March

Melar Acquisition Corp. I (NASDAQ:MACI) was the target of a significant increase in short interest in March. As of March 13th, there was short interest totaling 2,144 shares, an increase of 29.2% from the February 26th total of 1,659 shares. Based on an average daily volume of 29,651 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Melar Acquisition Corp. I Stock Performance

MACI traded down $0.02 during trading on Tuesday, reaching $10.78. The stock had a trading volume of 10,672 shares, compared to its average volume of 16,785. The stock has a 50 day moving average of $10.72 and a two-hundred day moving average of $10.65. Melar Acquisition Corp. I has a 1-year low of $10.19 and a 1-year high of $10.97.

Institutional Trading of Melar Acquisition Corp. I

Several institutional investors have recently modified their holdings of the company. Toronto Dominion Bank increased its position in shares of 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. BCK Capital Management LP raised its position in Melar Acquisition Corp. I by 37.7% during the third quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock valued at $723,000 after buying an additional 18,874 shares during the period. ABC Arbitrage SA purchased a new stake in Melar Acquisition Corp. I in the 4th quarter worth about $213,000. Sandia Investment Management LP acquired a new stake in Melar Acquisition Corp. I during the 3rd quarter worth about $249,000. Finally, Quarry LP acquired a new position in shares of Melar Acquisition Corp. I in the 3rd quarter valued at about $249,000.

Analyst Ratings Changes

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