Avalon Acquisition Inc. (NASDAQ:AVAC – Get Rating) was the recipient of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 4,900 shares, an increase of 14.0% from the October 15th total of 4,300 shares. Based on an average daily volume of 25,100 shares, the days-to-cover ratio is currently 0.2 days.

Avalon Acquisition Price Performance

Shares of NASDAQ AVAC opened at $10.09 on Tuesday. The stock has a fifty day moving average price of $10.05 and a 200 day moving average price of $10.01. Avalon Acquisition has a 1-year low of $9.83 and a 1-year high of $10.50.

Institutional Investors Weigh In On Avalon Acquisition

Several hedge funds have recently modified their holdings of AVAC. Cubist Systematic Strategies LLC lifted its holdings in Avalon Acquisition by 0.3% in the third quarter. Cubist Systematic Strategies LLC now owns 584,738 shares of the company's stock valued at $5,877,000 after acquiring an additional 1,760 shares during the period. Kohlberg Kravis Roberts & Co. L.P. lifted its holdings in Avalon Acquisition by 7.6% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 40,137 shares of the company's stock valued at $400,000 after acquiring an additional 2,850 shares during the period. Barclays PLC lifted its holdings in Avalon Acquisition by 1.8% in the third quarter. Barclays PLC now owns 253,567 shares of the company's stock valued at $2,548,000 after acquiring an additional 4,387 shares during the period. Cruiser Capital Advisors LLC lifted its holdings in Avalon Acquisition by 7.7% in the second quarter. Cruiser Capital Advisors LLC now owns 70,000 shares of the company's stock valued at $699,000 after acquiring an additional 5,000 shares during the period. Finally, Glazer Capital LLC acquired a new stake in Avalon Acquisition in the third quarter valued at $61,000. 65.22% of the stock is owned by institutional investors and hedge funds.

About Avalon Acquisition

Avalon Acquisition Inc 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 the financial services and financial technologies industries. The company was incorporated in 2020 and is based in San Francisco, California.

Further Reading

• Get a free copy of the StockNews.com research report on Avalon Acquisition (AVAC)
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