Avanti Acquisition Corp. (NYSE:AVAN – Get Rating) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totalling 221,300 shares, an increase of 178.0% from the July 31st total of 79,600 shares. Based on an average trading volume of 72,900 shares, the short-interest ratio is currently 3.0 days. Currently, 0.4% of the company's shares are sold short.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Qube Research & Technologies Ltd increased its position in Avanti Acquisition by 59.0% in the 4th quarter. Qube Research & Technologies Ltd now owns 81,381 shares of the company's stock valued at $799,000 after buying an additional 30,184 shares in the last quarter. Kawa Capital Management Inc bought a new stake in Avanti Acquisition in the 4th quarter valued at about $241,000. Aequim Alternative Investments LP bought a new stake in Avanti Acquisition in the 4th quarter valued at about $982,000. Springhouse Capital Management LP bought a new stake in Avanti Acquisition in the 2nd quarter valued at about $860,000. Finally, Kohlberg Kravis Roberts & Co. L.P. increased its position in Avanti Acquisition by 0.5% in the 2nd quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 682,124 shares of the company's stock valued at $6,760,000 after buying an additional 3,413 shares in the last quarter. 59.44% of the stock is owned by institutional investors.
Get Avanti Acquisition alerts:Avanti Acquisition Price Performance
AVAN stock opened at $9.99 on Friday. The stock has a 50-day moving average price of $9.94 and a 200-day moving average price of $9.90. Avanti Acquisition has a 1-year low of $9.72 and a 1-year high of $10.00.
About Avanti Acquisition
(Get Rating)Avanti Acquisition Corp. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. It seeks to identify and acquire one or more businesses across various industries in Europe with the United States nexus and international reach.
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