Melar Acquisition Corp. I (NASDAQ:MACI) Posts Earnings Results

Melar Acquisition Corp. I (NASDAQ:MACI) released its quarterly earnings data on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, FiscalAI reports.

Melar Acquisition Corp. I Stock Performance

Shares of NASDAQ:MACI traded up $0.03 on Thursday, hitting $10.96. The company’s stock had a trading volume of 1,301 shares, compared to its average volume of 1,084. The company has a 50-day simple moving average of $10.90 and a 200 day simple moving average of $10.82. Melar Acquisition Corp. I has a 1 year low of $10.47 and a 1 year high of $11.38.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Melar Acquisition Corp. I in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Melar Acquisition Corp. I

A number of institutional investors have recently made changes to their positions in MACI. Wolverine Asset Management LLC lifted its stake in Melar Acquisition Corp. I by 11.1% during the fourth quarter. Wolverine Asset Management LLC now owns 1,028,689 shares of the company’s stock worth $10,935,000 after purchasing an additional 102,361 shares during the last quarter. Berkley W R Corp raised its holdings in shares of Melar Acquisition Corp. I by 15.0% during the 1st quarter. Berkley W R Corp now owns 998,963 shares of the company’s stock valued at $10,759,000 after buying an additional 130,474 shares in the last quarter. L1 Global Manager Pty Ltd purchased a new position in shares of Melar Acquisition Corp. I during the 4th quarter valued at about $3,561,000. Radcliffe Capital Management L.P. bought a new stake in Melar Acquisition Corp. I in the 2nd quarter worth approximately $3,094,000. Finally, Crossingbridge Advisors LLC purchased a new stake in Melar Acquisition Corp. I in the fourth quarter worth approximately $2,245,000.

About Melar Acquisition Corp. I

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.