Axiom Intelligence Acquisition Corp 1 (NASDAQ:AXIN) Stock Short Interest Drops 85.7%

Key Points

• Short interest plunged 85.7% to just 20 shares as of September 30, representing approximately 0.0% of AXIN’s outstanding shares and a 0.0-day days-to-cover ratio.
• Wall Street sentiment remains negative: Weiss Ratings upgraded the stock from “sell (d-)” to “sell (d),” while the sole covering analyst maintains a Sell rating.
• AXIN shares were largely unchanged at $10.36, trading near their 50-day and 200-day moving averages. The SPAC reported quarterly EPS of $0.03 and continues seeking a business combination without an identified target.

Axiom Intelligence Acquisition Corp 1 (NASDAQ:AXIN - Get Free Report) saw a large decrease in short interest in the month of September. As of September 30th, there was short interest totaling 20 shares, a decrease of 85.7% from the September 15th total of 140 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 117,140 shares, the days-to-cover ratio is presently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Axiom Intelligence Acquisition Corp 1 from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, September 1st. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has an average rating of "Sell".

Institutional Trading of Axiom Intelligence Acquisition Corp 1

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SkyView Investment Advisors LLC bought a new stake in Axiom Intelligence Acquisition Corp 1 during the 2nd quarter worth $2,068,000. Sona Asset Management US LLC acquired a new position in Axiom Intelligence Acquisition Corp 1 in the 1st quarter valued at approximately $4,555,000. Finally, Radcliffe Capital Management L.P. increased its holdings in Axiom Intelligence Acquisition Corp 1 by 16.4% in the fourth quarter. Radcliffe Capital Management L.P. now owns 549,758 shares of the company's stock valued at $5,531,000 after purchasing an additional 77,571 shares during the period.

Axiom Intelligence Acquisition Corp 1 Trading Up 0.0%

Shares of AXIN stock opened at $10.36 on Friday. The stock has a 50 day simple moving average of $10.32 and a 200 day simple moving average of $10.28. Axiom Intelligence Acquisition Corp 1 has a 1 year low of $9.99 and a 1 year high of $10.45.

Axiom Intelligence Acquisition Corp 1 (NASDAQ:AXIN - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.03 EPS for the quarter.

About Axiom Intelligence Acquisition Corp 1

Axiom Intelligence Acquisition Corp 1 is a special purpose acquisition company, or SPAC, formed to pursue a business combination with one or more private companies.

Rather than operating a traditional business, the company's activities center on identifying a suitable merger, share exchange, asset acquisition, share purchase, reorganization or similar transaction. Its target industry and the identity of a potential business combination partner have not been established in the available information.

Because Axiom Intelligence Acquisition Corp 1 is in the acquisition phase, it does not currently offer products or services to customers.

This 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.