Short Interest in Axiom Intelligence Acquisition Corp 1 (NASDAQ:AXIN) Drops By 49.2%

Key Points

• Short interest fell 49.2% to 6,925 shares as of August 14, representing 0.0% of shares outstanding and just 0.3 days to cover.
• Several institutional investors increased their positions in AXIN, including Millennium Management, Meteora Capital, Westchester Capital Management and Radcliffe Capital Management.
• Despite the stock trading near $10.33 and reporting quarterly EPS of $0.03, analyst sentiment remains negative: Weiss Ratings reiterated a “sell (D-)” rating, and the consensus rating is “Sell.”

Axiom Intelligence Acquisition Corp 1 (NASDAQ:AXIN - Get Free Report) was the recipient of a large decrease in short interest during the month of August. As of August 14th, there was short interest totaling 6,925 shares, a decrease of 49.2% from the July 30th total of 13,622 shares. Based on an average daily volume of 22,058 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Axiom Intelligence Acquisition Corp 1

Institutional investors and hedge funds have recently modified their holdings of the business. Westchester Capital Management LLC lifted its holdings in Axiom Intelligence Acquisition Corp 1 by 35.0% in the 4th quarter. Westchester Capital Management LLC now owns 675,000 shares of the company's stock valued at $6,797,000 after acquiring an additional 175,000 shares during the last quarter. Radcliffe Capital Management L.P. grew its position 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 worth $5,531,000 after buying an additional 77,571 shares during the last quarter. Meteora Capital LLC increased its holdings in shares of Axiom Intelligence Acquisition Corp 1 by 59.9% in the fourth quarter. Meteora Capital LLC now owns 538,336 shares of the company's stock valued at $5,416,000 after buying an additional 201,753 shares in the last quarter. Millennium Management LLC raised its position in shares of Axiom Intelligence Acquisition Corp 1 by 94.2% during the fourth quarter. Millennium Management LLC now owns 513,750 shares of the company's stock worth $5,168,000 after purchasing an additional 249,250 shares during the period. Finally, Alberta Investment Management Corp purchased a new stake in shares of Axiom Intelligence Acquisition Corp 1 during the fourth quarter valued at $5,035,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Axiom Intelligence Acquisition Corp 1 in a research report on Wednesday, July 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Axiom Intelligence Acquisition Corp 1 currently has a consensus rating of "Sell".

Axiom Intelligence Acquisition Corp 1 Stock Up 0.1%

NASDAQ:AXIN traded up $0.01 during trading hours on Friday, hitting $10.33. The stock had a trading volume of 69,786 shares, compared to its average volume of 30,498. The business has a 50 day simple moving average of $10.31 and a two-hundred day simple moving average of $10.24. Axiom Intelligence Acquisition Corp 1 has a 1-year low of $9.95 and a 1-year high of $10.45.

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

About Axiom Intelligence Acquisition Corp 1

Axiom Intelligence Acquisition Corp 1 NASDAQ: AXIN is a special purpose acquisition company (SPAC) listed on the NASDAQ. As a blank‑check company, its primary purpose is to raise capital through a public offering and to identify, negotiate and complete a business combination or similar transaction with one or more operating businesses. The company itself does not conduct traditional operating activities prior to a completed business combination.

Typical activities for a SPAC like Axiom Intelligence Acquisition Corp 1 include sourcing potential acquisition targets, performing due diligence, structuring a merger or acquisition, and providing a vehicle through which private companies can access public markets.

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