Short Interest in Chardan NexTech Acquisition 2 Corp. (NASDAQ:CNTQ) Rises By 713.3%

Chardan NexTech Acquisition 2 Corp. (NASDAQ:CNTQGet Rating) saw a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 48,800 shares, a growth of 713.3% from the May 15th total of 6,000 shares. Based on an average daily trading volume, of 38,800 shares, the short-interest ratio is presently 1.3 days. Currently, 0.4% of the company’s shares are short sold.

Shares of CNTQ remained flat at $$10.12 during midday trading on Friday. The company’s stock had a trading volume of 828 shares, compared to its average volume of 59,530. Chardan NexTech Acquisition 2 has a twelve month low of $9.78 and a twelve month high of $11.14. The business has a fifty day simple moving average of $10.08 and a 200 day simple moving average of $10.03.

A number of institutional investors have recently added to or reduced their stakes in CNTQ. Royal Bank of Canada raised its stake in Chardan NexTech Acquisition 2 by 5.3% during the first quarter. Royal Bank of Canada now owns 21,050 shares of the company’s stock worth $212,000 after purchasing an additional 1,050 shares during the period. Glazer Capital LLC acquired a new stake in Chardan NexTech Acquisition 2 during the third quarter worth $82,000. Rivernorth Capital Management LLC purchased a new stake in Chardan NexTech Acquisition 2 in the third quarter valued at $124,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Chardan NexTech Acquisition 2 in the 4th quarter valued at $191,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Chardan NexTech Acquisition 2 during the 1st quarter worth $199,000. Hedge funds and other institutional investors own 86.98% of the company’s stock.

Chardan NexTech Acquisition 2 Company Profile (Get Rating)

Chardan NexTech Acquisition 2 Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses. It intends to focus on businesses in the financial services, healthcare, real estate services, technology, and software industries.

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