Short Interest in Amanat Acquisition Corp. (NASDAQ:AMAN) Drops By 46.2%

Amanat Acquisition Corp. (NASDAQ:AMAN) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 9,292 shares, a drop of 46.2% from the May 31st total of 17,274 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 256,474 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Amanat Acquisition to a “hold” rating in a research report on Saturday, May 23rd.

Amanat Acquisition Price Performance

AMAN traded up $0.01 during trading hours on Thursday, hitting $10.16. The stock had a trading volume of 726 shares, compared to its average volume of 131,904. Amanat Acquisition has a 1 year low of $9.98 and a 1 year high of $10.70.

About Amanat Acquisition

Amanat Acquisition Corp. is a special purpose acquisition company, or SPAC, formed to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Like other SPACs, its purpose is to identify and complete a transaction with an operating company rather than to run a traditional commercial business of its own.

The company was organized to pursue acquisition opportunities, but detailed public information about an operating business, product lineup, or end-market services is limited because its primary function is to serve as a vehicle for a future business combination.