Mountain Lake Acquisition Corp. (NASDAQ:MLAC) Short Interest Up 21.7% in March

Key Points

• Short interest rose 21.7% in March to 188,971 shares (about 1.2% of shares), leaving a high days-to-cover ratio of 14.4 days.
• Several institutions increased or initiated positions—Glazer Capital and Wolverine Asset Management hold large stakes (686,692 and 1,642,711 shares respectively), while Clear Street and Feynman Point entered with new, smaller stakes.
• Analyst sentiment is negative with a consensus "Sell" rating (Weiss Ratings reiterated a "sell (d-)"), and the stock has traded narrowly around ~$10.50 with a one-year range of $10.08–$10.69.

Mountain Lake Acquisition Corp. (NASDAQ:MLAC - Get Free Report) was the target of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 188,971 shares, an increase of 21.7% from the March 15th total of 155,314 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average trading volume of 13,089 shares, the days-to-cover ratio is currently 14.4 days.

Institutional Investors Weigh In On Mountain Lake Acquisition

Several large investors have recently made changes to their positions in the company. Clear Street Group Inc. purchased a new stake in shares of Mountain Lake Acquisition in the third quarter worth about $40,000. Glazer Capital LLC boosted its stake in Mountain Lake Acquisition by 9.9% during the fourth quarter. Glazer Capital LLC now owns 686,692 shares of the company's stock valued at $7,142,000 after buying an additional 62,080 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in Mountain Lake Acquisition by 5.7% during the 3rd quarter. Wolverine Asset Management LLC now owns 1,642,711 shares of the company's stock valued at $16,920,000 after buying an additional 89,253 shares in the last quarter. Radcliffe Capital Management L.P. increased its stake in Mountain Lake Acquisition by 99.3% in the 3rd quarter. Radcliffe Capital Management L.P. now owns 193,057 shares of the company's stock worth $1,993,000 after acquiring an additional 96,203 shares during the last quarter. Finally, Feynman Point Asset Management LLC purchased a new stake in shares of Mountain Lake Acquisition during the 4th quarter worth approximately $1,040,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Mountain Lake Acquisition in a research report on Monday, December 29th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of "Sell".

Mountain Lake Acquisition Price Performance

MLAC stock opened at $10.57 on Friday. The company's fifty day moving average price is $10.51 and its 200-day moving average price is $10.45. Mountain Lake Acquisition has a one year low of $10.08 and a one year high of $10.69.

Mountain Lake Acquisition (NASDAQ:MLAC - Get Free Report) last posted its earnings results on Friday, February 20th. The company reported $0.07 earnings per share for the quarter.

About Mountain Lake Acquisition

Malacca Straits Acquisition Company Limited does not have significant business. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the media, food processing, renewable energy, and healthcare industries. The company was formerly known as Bilbao Street Limited and changed its name to Malacca Straits Acquisition Company Limited in February 2020. Malacca Straits Acquisition Company Limited was incorporated in 2019 and is based in Central, Hong Kong.

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