Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH – Get Rating) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 144,200 shares, a drop of 79.0% from the September 15th total of 686,100 shares. Based on an average daily volume of 67,700 shares, the days-to-cover ratio is presently 2.1 days. Currently, 0.4% of the company's stock are short sold.

Institutional Investors Weigh In On Atlantic Coastal Acquisition

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wolverine Asset Management LLC bought a new stake in shares of Atlantic Coastal Acquisition in the 2nd quarter valued at about $31,000. Penserra Capital Management LLC bought a new position in Atlantic Coastal Acquisition during the 1st quarter worth $34,000. Graham Capital Wealth Management LLC bought a new position in shares of Atlantic Coastal Acquisition in the first quarter worth $98,000. Jane Street Group LLC acquired a new stake in Atlantic Coastal Acquisition in the second quarter valued at about $100,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Atlantic Coastal Acquisition during the first quarter valued at about $108,000. Institutional investors and hedge funds own 73.99% of the company's stock.

Atlantic Coastal Acquisition Price Performance

NASDAQ:ACAH opened at $9.85 on Friday. Atlantic Coastal Acquisition has a 12 month low of $9.68 and a 12 month high of $9.95. The company's 50 day moving average is $9.82 and its 200-day moving average is $9.80.

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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