Periscope Capital Inc. Has $1.95 Million Stake in Melar Acquisition Corp. I $MACI

Periscope Capital Inc. lowered its position in Melar Acquisition Corp. I (NASDAQ:MACI) by 22.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 183,612 shares of the company’s stock after selling 51,800 shares during the period. Periscope Capital Inc. owned 0.91% of Melar Acquisition Corp. I worth $1,952,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ABC Arbitrage SA acquired a new position in shares of Melar Acquisition Corp. I in the 4th quarter worth approximately $213,000. Sandia Investment Management LP acquired a new position in shares of Melar Acquisition Corp. I in the 3rd quarter worth approximately $249,000. Quarry LP acquired a new position in shares of Melar Acquisition Corp. I in the 3rd quarter worth approximately $249,000. BCK Capital Management LP lifted its position in shares of Melar Acquisition Corp. I by 37.7% in the 3rd quarter. BCK Capital Management LP now owns 68,874 shares of the company’s stock worth $723,000 after purchasing an additional 18,874 shares during the period. Finally, Radcliffe Capital Management L.P. acquired a new position in shares of Melar Acquisition Corp. I during the 2nd quarter valued at $3,094,000.

Melar Acquisition Corp. I Stock Performance

Shares of MACI stock opened at $10.83 on Friday. The firm has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $10.71. Melar Acquisition Corp. I has a 12 month low of $10.37 and a 12 month high of $11.38.

Melar Acquisition Corp. I (NASDAQ:MACI) last announced its quarterly earnings results on Thursday, May 14th. The company reported $0.04 EPS for the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Melar Acquisition Corp. I in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Melar Acquisition Corp. I has an average rating of “Sell”.

Melar Acquisition Corp. I Company Profile

Melar Acquisition Corp. I is a special purpose acquisition company (SPAC) incorporated in Delaware and listed on the NASDAQ under the symbol MACI. The company was formed to raise capital through an initial public offering and to identify, merge with or acquire one or more businesses with the goal of completing an initial business combination. As a blank check vehicle, Melar Acquisition Corp. I does not currently conduct operations of its own beyond the pursuit of a qualifying transaction.

Upon its IPO, Melar Acquisition Corp.