Miluna Acquisition Corp (NASDAQ:MMTX) Stock Short Interest Drops 33.5%

Key Points

• Short interest fell 33.5% to 761 shares as of October 15, down from 1,144 shares on September 30. Short interest represented 0.0% of shares outstanding, with a short-interest ratio of 0.1 days.
• Several institutional investors established positions in Miluna Acquisition during the first quarter, including Whitebox Advisors, Polar Asset Management Partners, and Sona Asset Management.
• The stock carries a consensus “Sell” rating from analysts. MMTX opened at $10.28, with a market capitalization of approximately $90.71 million, and operates as a SPAC seeking a business combination.

Miluna Acquisition Corp (NASDAQ:MMTX - Get Free Report) was the target of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 761 shares, a decrease of 33.5% from the September 30th total of 1,144 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 13,946 shares, the short-interest ratio is presently 0.1 days.

Hedge Funds Weigh In On Miluna Acquisition

Institutional investors and hedge funds have recently bought and sold shares of the business. Sona Asset Management US LLC bought a new position in Miluna Acquisition during the first quarter worth about $1,177,000. Polar Asset Management Partners Inc. bought a new position in Miluna Acquisition in the first quarter valued at about $3,704,000. Finally, Whitebox Advisors LLC bought a new stake in shares of Miluna Acquisition in the first quarter worth $4,004,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Miluna Acquisition from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 1st. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company presently has a consensus rating of "Sell".

Miluna Acquisition Trading Up 0.0%

MMTX stock opened at $10.28 on Monday. The company's 50 day simple moving average is $10.22. The firm has a market capitalization of $90.71 million and a price-to-earnings ratio of 9,785.71. Miluna Acquisition has a 12 month low of $9.88 and a 12 month high of $10.27.

Miluna Acquisition Company Profile

Miluna Acquisition Corporation NASDAQ: MMTX is a special purpose acquisition company, or SPAC. Rather than operating a conventional business that sells products or services, the company was formed to pursue a merger, acquisition, or similar business combination with one or more operating companies.

Miluna Acquisition's activities are primarily focused on identifying and evaluating potential acquisition targets, negotiating transaction terms, and completing a business combination. Until such a transaction is completed, the company generally does not have significant operating activities, commercial products, or established geographic markets.

Information about Miluna Acquisition's specific target industry, operating subsidiaries, products, geographic presence, and leadership is limited.

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.