Banner Acquisition Corp. (NASDAQ:BNNR – Get Rating) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 14,600 shares, an increase of 89.6% from the June 30th total of 7,700 shares. Approximately 0.1% of the company's stock are sold short. Based on an average daily volume of 44,300 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On Banner Acquisition

Several hedge funds and other institutional investors have recently made changes to their positions in BNNR. Cohanzick Management LLC increased its holdings 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. OTA Financial Group L.P. bought a new position in shares of Banner Acquisition during the 2nd quarter valued at approximately $572,000. Prelude Capital Management LLC bought a new position in shares of Banner Acquisition during the 1st quarter valued at approximately $612,000. Bank of America Corp DE bought a new stake in Banner Acquisition in the first quarter worth $2,856,000. Finally, Highbridge Capital Management LLC lifted its position in Banner Acquisition by 32.8% in the first quarter. Highbridge Capital Management LLC now owns 789,366 shares of the company's stock worth $7,775,000 after buying an additional 195,155 shares during the last quarter. Hedge funds and other institutional investors own 67.02% of the company's stock.

Banner Acquisition Trading Down 0.1 %

BNNR opened at $9.90 on Monday. The company's 50-day moving average is $9.86. Banner Acquisition has a 52-week low of $9.50 and a 52-week high of $16.00.

Banner Acquisition Company Profile

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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