Avanti Acquisition Corp. (NYSE:AVAN – Get Rating) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 127,500 shares, an increase of 38.1% from the June 30th total of 92,300 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 167,200 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On Avanti Acquisition

Institutional investors have recently made changes to their positions in the company. Graham Capital Wealth Management LLC purchased a new position in shares of Avanti Acquisition during the 4th quarter valued at approximately $100,000. Private Capital Management LLC purchased a new stake in Avanti Acquisition in the 1st quarter worth $197,000. Kawa Capital Management Inc purchased a new stake in Avanti Acquisition in the 4th quarter worth $241,000. Spartan Fund Management Inc. purchased a new stake in Avanti Acquisition in the 1st quarter worth $653,000. Finally, Qube Research & Technologies Ltd increased its holdings in Avanti Acquisition by 59.0% in the 4th quarter. Qube Research & Technologies Ltd now owns 81,381 shares of the company's stock worth $799,000 after acquiring an additional 30,184 shares in the last quarter. 59.44% of the stock is owned by hedge funds and other institutional investors.

Avanti Acquisition Price Performance

Shares of NYSE:AVAN traded down $0.01 during trading on Monday, hitting $9.95. 395,728 shares of the stock traded hands, compared to its average volume of 140,710. The company has a fifty day moving average price of $9.92 and a two-hundred day moving average price of $9.88. Avanti Acquisition has a 52-week low of $9.68 and a 52-week high of $9.97.

About Avanti Acquisition

Avanti Acquisition Corp. does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. It seeks to identify and acquire one or more businesses across various industries in Europe with the United States nexus and international reach.

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