Melar Acquisition Corp. I (NASDAQ:MACI) Trading 0.2% Higher – What’s Next?

Melar Acquisition Corp. I (NASDAQ:MACI)’s stock price shot up 0.2% on Thursday . The company traded as high as $10.89 and last traded at $10.9150. Approximately 108 shares changed hands during trading, a decline of 19% from the average session volume of 133 shares. The stock had previously closed at $10.89.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued 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 data from MarketBeat, the company has a consensus rating of “Sell”.

Melar Acquisition Corp. I Stock Performance

The company has a 50 day simple moving average of $10.87 and a 200 day simple moving average of $10.77.

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

Institutional Investors Weigh In On Melar Acquisition Corp. I

Hedge funds have recently modified their holdings of the stock. ABC Arbitrage SA purchased a new position in Melar Acquisition Corp. I in the 4th quarter valued at $213,000. Sandia Investment Management LP purchased a new position in Melar Acquisition Corp. I during the 3rd quarter worth $249,000. Quarry LP purchased a new position in Melar Acquisition Corp. I during the 3rd quarter worth $249,000. Toronto Dominion Bank raised its position in Melar Acquisition Corp. I by 11.0% during the 4th quarter. Toronto Dominion Bank now owns 133,198 shares of the company’s stock worth $1,416,000 after buying an additional 13,158 shares during the last quarter. Finally, Crossingbridge Advisors LLC acquired a new stake in shares of Melar Acquisition Corp. I in the 4th quarter worth $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.