Fat Projects Acquisition Corp (NASDAQ:FATP – Get Rating) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 35,100 shares, a growth of 23.6% from the January 31st total of 28,400 shares. Based on an average daily volume of 37,200 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.3% of the shares of the stock are sold short.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in FATP. Millennium Management LLC increased its position in Fat Projects Acquisition by 162.2% during the 2nd quarter. Millennium Management LLC now owns 517,836 shares of the company's stock valued at $5,137,000 after purchasing an additional 320,350 shares during the period. JPMorgan Chase & Co. acquired a new stake in Fat Projects Acquisition during the 1st quarter valued at approximately $4,853,000. Spring Creek Capital LLC acquired a new stake in Fat Projects Acquisition during the 1st quarter valued at approximately $3,462,000. Glazer Capital LLC acquired a new stake in Fat Projects Acquisition during the 1st quarter valued at approximately $2,197,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Fat Projects Acquisition during the 1st quarter worth approximately $553,000. Institutional investors own 78.00% of the company's stock.
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Fat Projects Acquisition Stock Performance
Shares of FATP stock remained flat at $10.46 on Friday. 4 shares of the stock were exchanged, compared to its average volume of 4,995. Fat Projects Acquisition has a 52-week low of $9.83 and a 52-week high of $10.48. The firm has a 50 day simple moving average of $10.28 and a 200-day simple moving average of $10.10.
Fat Projects Acquisition Company Profile
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Fat Projects Acquisition Corp does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or related business combination with one or more businesses. It intends to identify business opportunities in the field of the supply chain, transportation, logistics, finance, sustainability/ESG, food, agriculture, e-commerce, and big data and/or monetization areas in Southeast Asia.
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