Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH – Get Rating) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 8,500 shares, a drop of 86.6% from the February 13th total of 63,200 shares. Based on an average daily trading volume, of 220,200 shares, the short-interest ratio is presently 0.0 days. Currently, 0.0% of the company's stock are sold short.
Hedge Funds Weigh In On Atlantic Coastal Acquisition
Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Atlantic Coastal Acquisition by 47.0% in the first quarter. Goldman Sachs Group Inc. now owns 2,317,321 shares of the company's stock valued at $22,594,000 after purchasing an additional 741,114 shares in the last quarter. Saba Capital Management L.P. boosted its holdings in Atlantic Coastal Acquisition by 78.8% during the 3rd quarter. Saba Capital Management L.P. now owns 1,308,370 shares of the company's stock worth $12,848,000 after acquiring an additional 576,502 shares during the last quarter. Westchester Capital Management LLC bought a new stake in shares of Atlantic Coastal Acquisition in the 3rd quarter worth $3,465,000. Balyasny Asset Management LLC raised its holdings in shares of Atlantic Coastal Acquisition by 62.5% in the third quarter. Balyasny Asset Management LLC now owns 650,000 shares of the company's stock valued at $6,383,000 after purchasing an additional 250,000 shares during the last quarter. Finally, First Trust Capital Management L.P. bought a new position in shares of Atlantic Coastal Acquisition during the third quarter valued at about $1,505,000. Institutional investors and hedge funds own 72.48% of the company's stock.
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Atlantic Coastal Acquisition Trading Down 0.2 %
Shares of NASDAQ ACAH opened at $10.10 on Friday. The company has a 50-day moving average price of $10.09 and a 200-day moving average price of $9.96. Atlantic Coastal Acquisition has a 1 year low of $9.73 and a 1 year high of $10.24.
About Atlantic Coastal Acquisition
(Get Rating)
Atlantic Coastal 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 in mobility sector. The company was incorporated in 2020 and is based in New York, New York.
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