Banner Acquisition Corp. (NASDAQ:BNNR – Get Rating) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 14,600 shares, an increase of 89.6% from the June 30th total of 7,700 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 44,300 shares, the days-to-cover ratio is presently 0.3 days.
Institutional Investors Weigh In On Banner Acquisition
A number of institutional investors and hedge funds have recently modified their holdings of BNNR. Highbridge Capital Management LLC lifted its holdings in shares of Banner Acquisition by 32.8% in the first quarter. Highbridge Capital Management LLC now owns 789,366 shares of the company's stock worth $7,775,000 after buying an additional 195,155 shares in the last quarter. Cohanzick Management LLC lifted its holdings in shares of Banner Acquisition by 299.9% in the first quarter. Cohanzick Management LLC now owns 8,597 shares of the company's stock worth $85,000 after buying an additional 6,447 shares in the last quarter. Prelude Capital Management LLC purchased a new stake in shares of Banner Acquisition in the first quarter worth about $612,000. Sculptor Capital LP lifted its holdings in shares of Banner Acquisition by 285.7% in the first quarter. Sculptor Capital LP now owns 935,400 shares of the company's stock worth $9,214,000 after buying an additional 692,898 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Banner Acquisition in the first quarter worth about $2,856,000. 67.02% of the stock is owned by hedge funds and other institutional investors.
Get Banner Acquisition alerts:Banner Acquisition Trading Down 0.1 %
NASDAQ BNNR opened at $9.90 on Friday. Banner Acquisition has a 52 week low of $9.50 and a 52 week high of $16.00. The firm's 50-day simple moving average is $9.86.
About Banner Acquisition
(Get Rating)Banner 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. The company was incorporated in 2021 and is based in Lehi, Utah.
Further Reading
- Get a free copy of the StockNews.com research report on Banner Acquisition (BNNR)
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