Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH – Get Rating) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 686,100 shares, a growth of 50.6% from the August 31st total of 455,700 shares. Based on an average daily trading volume, of 59,600 shares, the days-to-cover ratio is currently 11.5 days. Approximately 2.0% of the shares of the company are short sold.

Atlantic Coastal Acquisition Price Performance

Shares of Atlantic Coastal Acquisition stock opened at $9.83 on Thursday. The company's fifty day moving average price is $9.82 and its two-hundred day moving average price is $9.79. Atlantic Coastal Acquisition has a 52-week low of $9.67 and a 52-week high of $9.95.

Institutional Investors Weigh In On Atlantic Coastal Acquisition

Several institutional investors and hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC increased its holdings in Atlantic Coastal Acquisition by 23.4% in the 2nd quarter. Verition Fund Management LLC now owns 19,378 shares of the company's stock valued at $190,000 after buying an additional 3,671 shares during the period. Prelude Capital Management LLC bought a new stake in shares of Atlantic Coastal Acquisition in the 2nd quarter worth about $357,000. Centiva Capital LP bought a new stake in shares of Atlantic Coastal Acquisition in the 2nd quarter worth about $457,000. Aristeia Capital LLC grew its holdings in shares of Atlantic Coastal Acquisition by 3.6% in the 2nd quarter. Aristeia Capital LLC now owns 1,242,773 shares of the company's stock worth $12,154,000 after purchasing an additional 42,773 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Atlantic Coastal Acquisition in the 2nd quarter worth about $100,000. Institutional investors own 73.99% of the company's stock.

About Atlantic Coastal Acquisition

Atlantic Coastal 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 in mobility sector. The company was incorporated in 2020 and is based in New York, New York.

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