Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH – Get Rating) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 301,300 shares, an increase of 105.9% from the November 30th total of 146,300 shares. Approximately 0.9% of the company's shares are sold short. Based on an average daily trading volume, of 51,900 shares, the days-to-cover ratio is presently 5.8 days.

Atlantic Coastal Acquisition Trading Up 0.1 %

Shares of ACAH opened at $10.02 on Thursday. The firm has a 50-day simple moving average of $9.93 and a two-hundred day simple moving average of $9.85. Atlantic Coastal Acquisition has a 1-year low of $9.71 and a 1-year high of $10.02.

Institutional Trading of Atlantic Coastal Acquisition

Several institutional investors have recently added to or reduced their stakes in ACAH. Ergoteles LLC acquired a new position in Atlantic Coastal Acquisition during the first quarter worth $233,000. Penserra Capital Management LLC acquired a new position in Atlantic Coastal Acquisition in the 1st quarter valued at about $34,000. J. Goldman & Co LP purchased a new stake in Atlantic Coastal Acquisition during the first quarter worth about $1,304,000. Goldman Sachs Group Inc. lifted its position in shares of Atlantic Coastal Acquisition by 47.0% during the first quarter. Goldman Sachs Group Inc. now owns 2,317,321 shares of the company's stock worth $22,594,000 after purchasing an additional 741,114 shares in the last quarter. Finally, Graham Capital Wealth Management LLC purchased a new position in shares of Atlantic Coastal Acquisition in the first quarter valued at approximately $98,000. Institutional investors and hedge funds own 72.48% of the company's stock.

About Atlantic Coastal Acquisition

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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