Banner Acquisition Corp. (NASDAQ:BNNR – Get Rating) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 7,700 shares, a drop of 42.5% from the June 15th total of 13,400 shares. Currently, 0.1% of the company's shares are sold short. Based on an average daily volume of 44,600 shares, the days-to-cover ratio is currently 0.2 days.

Banner Acquisition Price Performance

NASDAQ:BNNR opened at $9.96 on Friday. Banner Acquisition has a 1-year low of $9.50 and a 1-year high of $16.00. The company has a fifty day moving average of $9.86.

Institutional Investors Weigh In On Banner Acquisition

Several hedge funds have recently bought and sold shares of BNNR. Highbridge Capital Management LLC lifted its stake in Banner Acquisition by 32.8% in the 1st quarter. Highbridge Capital Management LLC now owns 789,366 shares of the company's stock worth $7,775,000 after acquiring an additional 195,155 shares in the last quarter. Cohanzick Management LLC lifted its stake in Banner Acquisition by 299.9% in the 1st quarter. Cohanzick Management LLC now owns 8,597 shares of the company's stock worth $85,000 after acquiring an additional 6,447 shares in the last quarter. Prelude Capital Management LLC purchased a new stake in shares of Banner Acquisition during the 1st quarter worth about $612,000. Sculptor Capital LP raised its stake in shares of Banner Acquisition by 285.7% during the 1st quarter. Sculptor Capital LP now owns 935,400 shares of the company's stock worth $9,214,000 after purchasing an additional 692,898 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Banner Acquisition during the 1st quarter worth about $2,856,000. 67.02% of the stock is owned by hedge funds and other institutional investors.

About Banner Acquisition

Banner 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. The company was incorporated in 2021 and is based in Lehi, Utah.

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