Short Interest in Swiftmerge Acquisition Corp. (NASDAQ:IVCP) Expands By 44.4%

Swiftmerge Acquisition Corp. (NASDAQ:IVCP) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 1,300 shares, an increase of 44.4% from the June 30th total of 900 shares. Based on an average trading volume of 5,800 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the company’s shares are sold short.

Hedge Funds Weigh In On Swiftmerge Acquisition

A number of hedge funds have recently added to or reduced their stakes in IVCP. Virtu Financial LLC bought a new stake in shares of Swiftmerge Acquisition in the first quarter worth approximately $562,000. Sandia Investment Management LP purchased a new stake in Swiftmerge Acquisition in the 1st quarter worth approximately $1,349,000. Quarry LP bought a new position in shares of Swiftmerge Acquisition in the fourth quarter worth approximately $6,049,000. Finally, Mizuho Securities USA LLC purchased a new stake in Swiftmerge Acquisition in the 4th quarter worth $1,064,000. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Swiftmerge Acquisition Stock Down 0.2 %

Shares of NASDAQ:IVCP traded down $0.02 on Monday, hitting $10.95. The company had a trading volume of 162 shares, compared to its average volume of 21,891. Swiftmerge Acquisition has a 1 year low of $10.36 and a 1 year high of $12.20. The firm has a market capitalization of $74.90 million, a price-to-earnings ratio of 78.21 and a beta of 0.02. The firm’s 50-day simple moving average is $10.93 and its two-hundred day simple moving average is $10.89.

Swiftmerge Acquisition (NASDAQ:IVCP) last announced its quarterly earnings data on Monday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Swiftmerge Acquisition Company Profile

Swiftmerge Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in West Vancouver, Canada.