Short Interest in Keen Vision Acquisition Corporation (NASDAQ:KVAC) Drops By 46.9%

Keen Vision Acquisition Corporation (NASDAQ:KVAC) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 772 shares, a drop of 46.9% from the May 31st total of 1,454 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 541 shares, the days-to-cover ratio is currently 1.4 days.

Keen Vision Acquisition Trading Up 1.1%

Keen Vision Acquisition stock opened at $12.32 on Tuesday. Keen Vision Acquisition has a 1 year low of $11.33 and a 1 year high of $12.55. The firm’s 50 day moving average price is $12.23 and its 200-day moving average price is $12.03.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Keen Vision Acquisition in a research report on Friday, April 10th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Keen Vision Acquisition has an average rating of “Hold”.

Hedge Funds Weigh In On Keen Vision Acquisition

Institutional investors have recently bought and sold shares of the stock. Crossingbridge Advisors LLC grew its position in shares of Keen Vision Acquisition by 8.9% during the fourth quarter. Crossingbridge Advisors LLC now owns 71,032 shares of the company’s stock valued at $835,000 after purchasing an additional 5,776 shares in the last quarter. Meteora Capital LLC bought a new position in Keen Vision Acquisition during the third quarter valued at approximately $120,000. Clear Street Group Inc. grew its holdings in Keen Vision Acquisition by 86.6% during the 4th quarter. Clear Street Group Inc. now owns 61,530 shares of the company’s stock valued at $723,000 after buying an additional 28,553 shares in the last quarter. Finally, Berkley W R Corp increased its stake in Keen Vision Acquisition by 5.0% in the 4th quarter. Berkley W R Corp now owns 749,372 shares of the company’s stock worth $8,805,000 after acquiring an additional 35,357 shares during the last quarter. 51.72% of the stock is owned by hedge funds and other institutional investors.

About Keen Vision Acquisition

Keen Vision Acquisition Corp is a Delaware‐incorporated special purpose acquisition company (SPAC) that completed its initial public offering in 2021. Trading on the Nasdaq under the ticker KVAC, the company raised capital through the sale of units priced at $10.00 each. Proceeds from the offering are held in a trust account pending the identification and completion of a business combination.

The company’s principal business activity is to seek a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses or assets.