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Banner Acquisition Corp. (NASDAQ:BNNR) Sees Large Growth in Short Interest

Defense World ·  Sep 21, 2022 05:42

Banner Acquisition Corp. (NASDAQ:BNNR – Get Rating) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 6,900 shares, an increase of 6.2% from the August 15th total of 6,500 shares. Based on an average daily volume of 17,900 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company's shares are short sold.

Banner Acquisition Price Performance

NASDAQ:BNNR opened at $9.88 on Wednesday. The stock has a 50-day moving average of $9.89. Banner Acquisition has a 12 month low of $9.50 and a 12 month high of $16.00.

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Hedge Funds Weigh In On Banner Acquisition

A number of institutional investors have recently bought and sold shares of BNNR. Cohanzick Management LLC grew its holdings in shares of Banner Acquisition by 299.9% during the 1st quarter. Cohanzick Management LLC now owns 8,597 shares of the company's stock worth $85,000 after acquiring an additional 6,447 shares during the period. OTA Financial Group L.P. bought a new stake in shares of Banner Acquisition during the second quarter valued at approximately $572,000. Prelude Capital Management LLC bought a new stake in shares of Banner Acquisition during the first quarter valued at approximately $612,000. Dark Forest Capital Management LP grew its stake in Banner Acquisition by 68.3% in the second quarter. Dark Forest Capital Management LP now owns 87,446 shares of the company's stock worth $863,000 after purchasing an additional 35,496 shares during the period. Finally, Millennium Management LLC raised its holdings in Banner Acquisition by 2.5% in the second quarter. Millennium Management LLC now owns 182,805 shares of the company's stock worth $1,802,000 after purchasing an additional 4,380 shares in the last quarter. 65.07% of the stock is owned by institutional investors.

Banner Acquisition Company Profile

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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.

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