Short Interest in Melar Acquisition Corp. I (NASDAQ:MACI) Drops By 18.3%

Melar Acquisition Corp. I (NASDAQ:MACI - Get Free Report) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totaling 1,202 shares, a decline of 18.3% from the March 31st total of 1,472 shares. Based on an average daily trading volume, of 1,026 shares, the short-interest ratio is currently 1.2 days. Approximately 0.0% of the company's stock are sold short.Melar Acquisition Corp. I Stock PerformanceShares of MACI stock remained flat at $10.81 during mid-day trading on Thursday. 16,141 shares of the stock were exchanged, compared to its average volume of 6,403. Melar Acquisition Corp. I has a 1 year low of $10.30 and a 1 year high of $10.97. The firm's 50 day simple moving average is $10.76 and its 200-day simple moving average is $10.68. Melar Acquisition Corp. I (NASDAQ:MACI - Get Free Report) last announced its earnings results on Friday, March 6th. The company reported $0.06 EPS for the quarter. Hedge Funds Weigh In On Melar Acquisition Corp. IHedge funds have recently bought and sold shares of the business. ABC Arbitrage SA purchased a new position in Melar Acquisition Corp. I in the 4th quarter worth about $213,000. Sandia Investment Management LP purchased a new stake in Melar Acquisition Corp. I during the 3rd quarter valued at approximately $249,000. Quarry LP purchased a new stake in Melar Acquisition Corp. I during the 3rd quarter valued at approximately $249,000. BCK Capital Management LP grew its holdings in Melar Acquisition Corp. I by 37.7% during the 3rd 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 in the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Melar Acquisition Corp. I by 11.0% during the 4th quarter. Toronto Dominion Bank now owns 133,198 shares of the company's stock valued at $1,416,000 after acquiring an additional 13,158 shares during the last quarter. Analyst Upgrades and DowngradesSeparately, Weiss Ratings restated a "sell (d)" rating on shares of Melar Acquisition Corp. I in a report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Sell".Read Our Latest Stock Analysis on MACIAbout Melar Acquisition Corp. I (Get Free Report)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.See AlsoFive stocks we like better than Melar Acquisition Corp. IThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Melar Acquisition Corp. I Right Now?Before you consider Melar Acquisition Corp. I, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Melar Acquisition Corp. I wasn't on the list.While Melar Acquisition Corp. I currently has a Sell rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here