AMCI Acquisition Corp. (NASDAQ:AMCI) Sees Significant Decrease in Short Interest

AMCI Acquisition Corp. (NASDAQ:AMCI) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totaling 51,068 shares, a decline of 39.5% from the May 31st total of 84,443 shares. Based on an average daily volume of 66,699 shares, the short-interest ratio is presently 0.8 days. Approximately 0.3% of the company’s stock are sold short.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AMCI. Wall Street Zen raised shares of AMCI Acquisition from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings lowered AMCI Acquisition from a “sell (d)” rating to a “sell (e+)” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, AMCI Acquisition presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On AMCI Acquisition

A number of hedge funds have recently added to or reduced their stakes in the stock. Harraden Circle Investments LLC purchased a new stake in shares of AMCI Acquisition in the fourth quarter worth approximately $1,115,000. DLD Asset Management LP purchased a new position in shares of AMCI Acquisition during the fourth quarter valued at approximately $84,000. Finally, Themes Management Co LLC purchased a new position in shares of AMCI Acquisition during the first quarter valued at approximately $213,000. Institutional investors and hedge funds own 46.08% of the company’s stock.

AMCI Acquisition Trading Down 6.1%

AMCI opened at $4.89 on Friday. The company’s fifty day moving average price is $5.15 and its two-hundred day moving average price is $6.30. AMCI Acquisition has a 1-year low of $2.50 and a 1-year high of $42.00. The company has a market cap of $110.51 million, a price-to-earnings ratio of 489.00 and a beta of 0.23.

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

AMCI Acquisition Company Profile

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.