Summit Healthcare Acquisition Corp. (NASDAQ:SMIH – Get Rating) saw a significant growth in short interest during the month of December. As of December 30th, there was short interest totalling 3,300 shares, a growth of 50.0% from the December 15th total of 2,200 shares. Based on an average trading volume of 63,400 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Summit Healthcare Acquisition

A number of hedge funds have recently added to or reduced their stakes in SMIH. Cantor Fitzgerald L. P. grew its stake in Summit Healthcare Acquisition by 1,961.3% in the third quarter. Cantor Fitzgerald L. P. now owns 1,030,646 shares of the company's stock valued at $10,121,000 after acquiring an additional 980,646 shares during the period. Bank of America Corp DE acquired a new stake in Summit Healthcare Acquisition in the first quarter valued at approximately $3,301,000. Calamos Advisors LLC purchased a new position in shares of Summit Healthcare Acquisition during the third quarter valued at approximately $2,868,000. Bank of Montreal Can purchased a new position in shares of Summit Healthcare Acquisition during the first quarter valued at approximately $1,460,000. Finally, Aristeia Capital LLC purchased a new position in shares of Summit Healthcare Acquisition during the third quarter valued at approximately $1,225,000. Institutional investors and hedge funds own 46.03% of the company's stock.

Summit Healthcare Acquisition Trading Up 0.1 %

NASDAQ SMIH traded up $0.01 during trading hours on Friday, hitting $10.10. 52,030 shares of the company's stock were exchanged, compared to its average volume of 10,992. The stock has a 50-day simple moving average of $10.02 and a 200 day simple moving average of $9.89. Summit Healthcare Acquisition has a 1-year low of $9.61 and a 1-year high of $10.30. The firm has a market cap of $260.08 million, a price-to-earnings ratio of 12.63 and a beta of 0.01.

About Summit Healthcare Acquisition

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Summit Healthcare Acquisition Corp. does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2020 and is based in Central, Hong Kong.

Further Reading

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