Melar Acquisition Corp. I (NASDAQ:MACI) Shares Up 0.2% - What's Next?

Key Points

• MACI shares edged up 0.2% on Thursday, trading around $10.915 after reaching an intraday high of $10.89. Volume was light at 108 shares, below its average daily volume of 133.
• Analyst sentiment remains negative, with Weiss Ratings reiterating a “sell (d)” rating. MarketBeat data shows the stock’s average rating is currently a Sell.
• Melar Acquisition Corp. I is a SPAC with no operating business of its own yet, and its goal is to complete a merger or acquisition. The company also reported EPS of $0.04 in its latest quarterly results.

Melar Acquisition Corp. I (NASDAQ:MACI - Get Free Report) traded up 0.2% during mid-day trading on Thursday . The company traded as high as $10.89 and last traded at $10.9150. Approximately 108 shares were traded during trading, a decline of 19% from the average daily volume of 133 shares. The stock had previously closed at $10.89.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "sell (d)" rating on shares of Melar Acquisition Corp. I in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of "Sell".

Melar Acquisition Corp. I Stock Performance

The company's 50 day moving average is $10.87 and its 200 day moving average is $10.77.

Melar Acquisition Corp. I (NASDAQ:MACI - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.04 earnings per share (EPS) for the quarter.

Institutional Trading of Melar Acquisition Corp. I

A number of large investors have recently made changes to their positions in MACI. Wolverine Asset Management LLC grew its stake in Melar Acquisition Corp. I by 11.1% during the 4th quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company's stock worth $10,935,000 after buying an additional 102,361 shares during the last quarter. Berkley W R Corp boosted its holdings in shares of Melar Acquisition Corp. I by 15.0% in the first quarter. Berkley W R Corp now owns 998,963 shares of the company's stock valued at $10,759,000 after acquiring an additional 130,474 shares during the period. Radcliffe Capital Management L.P. boosted its holdings in shares of Melar Acquisition Corp. I by 45.0% in the third quarter. Radcliffe Capital Management L.P. now owns 426,939 shares of the company's stock valued at $4,483,000 after acquiring an additional 132,564 shares during the period. L1 Global Manager Pty Ltd purchased a new position in shares of Melar Acquisition Corp. I during the fourth quarter worth approximately $3,561,000. Finally, Crossingbridge Advisors LLC purchased a new position in shares of Melar Acquisition Corp. I during the fourth quarter worth approximately $2,245,000.

Melar Acquisition Corp. I Company Profile

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.

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