Gobi Acquisition Corp. (NASDAQ:GOBI) Sees Significant Growth in Short Interest

Gobi Acquisition Corp. (NASDAQ:GOBI) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 105,000 shares, a growth of 1,710.3% from the September 30th total of 5,800 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average trading volume of 1,600 shares, the short-interest ratio is currently 65.6 days.

A number of hedge funds have recently added to or reduced their stakes in GOBI. Millennium Management LLC bought a new position in shares of Gobi Acquisition during the 2nd quarter valued at $5,517,000. NINE MASTS CAPITAL Ltd acquired a new stake in Gobi Acquisition in the 2nd quarter worth $4,925,000. Marshall Wace LLP acquired a new stake in Gobi Acquisition in the 2nd quarter worth $3,617,000. Citigroup Inc. acquired a new stake in shares of Gobi Acquisition during the 2nd quarter valued at about $3,004,000. Finally, Magnetar Financial LLC acquired a new stake in shares of Gobi Acquisition during the 2nd quarter valued at about $2,955,000. Institutional investors own 20.59% of the company’s stock.

NASDAQ:GOBI remained flat at $$9.78 during trading hours on Wednesday. 167 shares of the company were exchanged, compared to its average volume of 2,101. Gobi Acquisition has a 1 year low of $9.61 and a 1 year high of $10.05. The firm has a 50 day simple moving average of $9.69.

Gobi Acquisition Company Profile

Gobi Acquisition Corp. is a blank check company. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or related business combination with one or more businesses. Gobi Acquisition Corp. is based in Hong Kong.

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