Metals Acquisition Corp (NYSE:MTAL – Get Rating) was the recipient of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 30,300 shares, a decrease of 42.3% from the March 31st total of 52,500 shares. Based on an average daily volume of 110,800 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the company are short sold.
Institutional investors and hedge funds have recently modified their holdings of the business. Berkley W R Corp purchased a new stake in shares of Metals Acquisition during the third quarter worth about $742,000. Tuttle Capital Management LLC grew its position in shares of Metals Acquisition by 33.3% during the fourth quarter. Tuttle Capital Management LLC now owns 160,816 shares of the company’s stock worth $1,169,000 after purchasing an additional 40,204 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Metals Acquisition during the fourth quarter valued at approximately $3,181,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Metals Acquisition during the fourth quarter valued at approximately $3,725,000. Institutional investors and hedge funds own 32.61% of the company’s stock.
Metals Acquisition stock traded down $0.01 during mid-day trading on Friday, reaching $9.98. 2,255 shares of the stock traded hands, compared to its average volume of 48,446. Metals Acquisition has a 12-month low of $9.57 and a 12-month high of $10.15. The business’s 50-day moving average is $9.86 and its 200-day moving average is $9.76.
Metals Acquisition Corp does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus its search on metals and mining businesses. Metals Acquisition Corp was incorporated in 2021 and is based in Fort Worth, Texas.
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