Tavia Acquisition Corp. (NASDAQ:TAVI) Sees Large Drop in Short Interest

Key Points

• Short interest fell 53.3% to 50 shares as of September 15, down from 107 shares at the end of August. Short interest represented 0.0% of shares outstanding, with a short-interest ratio of 0.1 days.
• Tavia Acquisition opened at $10.76, near its 50-day moving average of $10.77, and reported a quarterly loss of $0.03 per share. The sole analyst rating remains Sell, despite Weiss Ratings upgrading its sell grade slightly.
• Institutional investors showed continued interest, including Sona Asset Management’s new $1.06 million position and increased stakes from Berkley W. R. Corp. and Radcliffe Capital Management.

Tavia Acquisition Corp. (NASDAQ:TAVI - Get Free Report) saw a significant decline in short interest in September. As of September 15th, there was short interest totaling 50 shares, a decline of 53.3% from the August 31st total of 107 shares. Currently, 0.0% of the company's stock are sold short. Based on an average daily trading volume, of 551 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Tavia Acquisition from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Tavia Acquisition currently has an average rating of "Sell".

Tavia Acquisition Trading Down 0.1%

TAVI opened at $10.76 on Monday. The business's 50-day moving average is $10.77 and its two-hundred day moving average is $10.67. Tavia Acquisition has a 1 year low of $10.32 and a 1 year high of $11.91.

Tavia Acquisition (NASDAQ:TAVI - Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The company reported ($0.03) EPS for the quarter.

Institutional Investors Weigh In On Tavia Acquisition

A number of hedge funds and other institutional investors have recently bought and sold shares of TAVI. Sona Asset Management US LLC purchased a new stake in shares of Tavia Acquisition during the 1st quarter valued at $1,056,000. Berkley W R Corp grew its stake in Tavia Acquisition by 1.9% during the 1st quarter. Berkley W R Corp now owns 216,861 shares of the company's stock worth $2,290,000 after buying an additional 3,980 shares during the last quarter. Finally, Radcliffe Capital Management L.P. grew its stake in Tavia Acquisition by 2.8% during the 4th quarter. Radcliffe Capital Management L.P. now owns 101,709 shares of the company's stock worth $1,061,000 after buying an additional 2,801 shares during the last quarter.

About Tavia Acquisition

Tavia Acquisition Corporation is a blank-check company, also known as a special purpose acquisition company (SPAC). The company was formed to identify and complete a business combination with one or more operating businesses, which may include a merger, share exchange, acquisition of assets, reorganization or similar transaction.

Unlike an operating company, Tavia Acquisition does not have an established portfolio of products or services. Its activities are primarily focused on evaluating potential acquisition targets, conducting due diligence and negotiating a transaction intended to create a publicly traded business.

Tavia Acquisition is incorporated in the Cayman Islands and its ordinary shares trade on the Nasdaq Capital Market under the symbol TAVI.

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