Short Interest in AMCI Acquisition Corp. (NASDAQ:AMCI) Declines By 74.1%

Key Points

• Short interest fell 74.1% to 11,350 shares as of July 31, from 43,892 shares on July 15. Short interest represented 0.1% of shares outstanding, with a days-to-cover ratio of 0.1.
• AMCI shares rose 1.8% to $4.69 during Thursday trading. The stock has a market capitalization of approximately $106.1 million and has traded between $2.50 and $42.00 over the past 52 weeks.
• Institutional investors own 46.08% of the company, while analyst sentiment remains negative: AMCI has a consensus rating of “Sell”, despite one firm upgrading its view to “Hold.”

AMCI Acquisition Corp. (NASDAQ:AMCI - Get Free Report) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 11,350 shares, a decrease of 74.1% from the July 15th total of 43,892 shares. Based on an average trading volume of 167,182 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the shares of the stock are short sold.

Hedge Funds Weigh In On AMCI Acquisition

Large investors have recently bought and sold shares of the stock. DLD Asset Management LP acquired a new position in shares of AMCI Acquisition in the 4th quarter valued at $84,000. Themes Management Co LLC acquired a new stake in shares of AMCI Acquisition during the 1st quarter worth $213,000. Finally, Harraden Circle Investments LLC acquired a new stake in shares of AMCI Acquisition during the 4th quarter worth $1,115,000. Hedge funds and other institutional investors own 46.08% of the company's stock.

AMCI Acquisition Trading Up 1.8%

AMCI traded up $0.08 during midday trading on Thursday, hitting $4.69. The company's stock had a trading volume of 119,682 shares, compared to its average volume of 123,700. The firm has a market cap of $106.08 million, a P/E ratio of 469.40 and a beta of 0.27. The firm has a 50-day moving average price of $4.79 and a two-hundred day moving average price of $5.70. AMCI Acquisition has a 52-week low of $2.50 and a 52-week high of $42.00.

AMCI Acquisition (NASDAQ:AMCI - Get Free Report) last posted its quarterly earnings data on Monday, April 20th. The company reported ($1.64) EPS for the quarter. The firm had revenue of $1.29 million for the quarter.

Analysts Set New Price Targets

AMCI has been the subject of a number of recent research reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of AMCI Acquisition in a research report on Tuesday, July 21st. Wall Street Zen upgraded shares of AMCI Acquisition from a "strong sell" rating to a "hold" rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of "Sell".

About AMCI Acquisition

AMCI Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses operating in the natural resource infrastructure, value chain, and logistics-related sectors. The company was founded in 2018 and is based in Latrobe, Pennsylvania.

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