Short Interest in Avanti Acquisition Corp. (NYSE:AVAN) Declines By 63.8%

Avanti Acquisition Corp. (NYSE:AVAN) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 52,300 shares, a drop of 63.8% from the March 15th total of 144,600 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 692,800 shares, the short-interest ratio is currently 0.1 days.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TIG Advisors LLC acquired a new position in Avanti Acquisition during the fourth quarter worth approximately $2,345,000. Mizuho Securities USA LLC acquired a new position in Avanti Acquisition during the fourth quarter worth approximately $1,515,000. HighTower Advisors LLC acquired a new position in Avanti Acquisition during the fourth quarter worth approximately $1,311,000. Alliancebernstein L.P. acquired a new position in shares of Avanti Acquisition in the fourth quarter valued at approximately $1,301,000. Finally, Basso Capital Management L.P. acquired a new position in shares of Avanti Acquisition in the fourth quarter valued at approximately $326,000.

Shares of NYSE AVAN traded down $0.01 during midday trading on Wednesday, hitting $9.98. 213,364 shares of the company’s stock were exchanged, compared to its average volume of 663,475. Avanti Acquisition has a twelve month low of $9.54 and a twelve month high of $11.40. The firm has a fifty day simple moving average of $10.06.

About Avanti Acquisition

Avanti Acquisition Corp. intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was founded in 2020 and is based in Grand Cayman, the Cayman Islands.

Further Reading: Understanding Price to Earnings Ratio (PE)

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