Flame Acquisition Corp. (NYSE:FLME – Get Rating) was the target of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totalling 3,600 shares, a decrease of 45.5% from the June 30th total of 6,600 shares. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 50,100 shares, the days-to-cover ratio is presently 0.1 days.
Flame Acquisition Price Performance
Shares of NYSE:FLME remained flat at $9.83 during trading on Friday. 36,982 shares of the stock were exchanged, compared to its average volume of 62,035. Flame Acquisition has a 1 year low of $9.60 and a 1 year high of $9.84. The firm's 50-day moving average price is $9.80 and its 200-day moving average price is $9.77.
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Institutional Investors Weigh In On Flame Acquisition
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corbyn Investment Management Inc. MD raised its position in Flame Acquisition by 6.4% in the first quarter. Corbyn Investment Management Inc. MD now owns 62,790 shares of the company's stock worth $612,000 after acquiring an additional 3,800 shares during the period. Bank of America Corp DE raised its position in Flame Acquisition by 140,000.0% in the first quarter. Bank of America Corp DE now owns 560,400 shares of the company's stock worth $5,464,000 after acquiring an additional 560,000 shares during the period. Kohlberg Kravis Roberts & Co. L.P. raised its position in Flame Acquisition by 9.9% in the first quarter. Kohlberg Kravis Roberts & Co. L.P. now owns 89,594 shares of the company's stock worth $874,000 after acquiring an additional 8,106 shares during the period. Bank of Montreal Can bought a new position in Flame Acquisition in the first quarter worth approximately $285,000. Finally, Beryl Capital Management LLC bought a new position in Flame Acquisition in the fourth quarter worth approximately $1,944,000. Hedge funds and other institutional investors own 59.04% of the company's stock.
About Flame Acquisition
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Flame Acquisition Corp. does not have significant operations. The focuses on effecting into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to identify, acquire, and operate a business in the energy industry primarily upstream exploration and production sector, and midstream sector and companies.
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