Short Interest in BEST SPAC I Acquisition Corp. (NASDAQ:BSAA) Increases By 183.7%

BEST SPAC I Acquisition Corp. (NASDAQ:BSAA – Get Free Report) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 13,591 shares, a growth of 183.7% from the April 30th total of 4,791 shares. Based on an average daily volume of 6,104 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.2% of the shares of the stock are short sold.

BEST SPAC I Acquisition Price Performance

NASDAQ BSAA opened at $11.70 on Monday. BEST SPAC I Acquisition has a 12 month low of $9.82 and a 12 month high of $13.37. The company’s 50-day moving average is $10.54.

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BEST SPAC I Acquisition (NASDAQ:BSAA – Get Free Report) last issued its earnings results on Tuesday, April 28th. The company reported $0.10 earnings per share (EPS) for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of BEST SPAC I Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

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Institutional Trading of BEST SPAC I Acquisition

Institutional investors have recently modified their holdings of the company. Toronto Dominion Bank purchased a new stake in shares of BEST SPAC I Acquisition during the 4th quarter worth about $70,000. PenderFund Capital Management Ltd. purchased a new stake in shares of BEST SPAC I Acquisition during the 4th quarter worth about $120,000. L1 Global Manager Pty Ltd purchased a new stake in shares of BEST SPAC I Acquisition during the 4th quarter worth about $506,000. Westchester Capital Management LLC purchased a new stake in shares of BEST SPAC I Acquisition during the 4th quarter worth about $506,000. Finally, Aristeia Capital L.L.C. purchased a new stake in shares of BEST SPAC I Acquisition during the 4th quarter worth about $962,000.

BEST SPAC I Acquisition Company Profile

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BEST SPAC I Acquisition Corp. (NASDAQ: BSAA) is a publicly traded special purpose acquisition company (SPAC) formed to identify, acquire and merge with one or more operating businesses. As a blank‑check company listed on the Nasdaq, its primary business activity is to seek a business combination that will result in the target becoming a publicly traded company through the SPAC vehicle.

Like other SPACs, BEST SPAC I is structured to raise capital from public investors and hold the proceeds in trust while management evaluates potential acquisition targets.

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