Bridgetown Holdings Limited (NASDAQ:BTWN – 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 445,500 shares, an increase of 26.3% from the June 30th total of 352,800 shares. Based on an average daily trading volume, of 208,800 shares, the short-interest ratio is currently 2.1 days.
Bridgetown Trading Down 0.1 %
NASDAQ BTWN opened at $9.95 on Tuesday. The company has a fifty day simple moving average of $9.92 and a two-hundred day simple moving average of $9.88. The stock has a market cap of $740.02 million, a P/E ratio of 19.13 and a beta of -0.13. Bridgetown has a 12-month low of $9.71 and a 12-month high of $10.44.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Formidable Asset Management LLC raised its holdings in shares of Bridgetown by 2.7% during the first quarter. Formidable Asset Management LLC now owns 72,007 shares of the company’s stock worth $710,000 after purchasing an additional 1,915 shares during the last quarter. Toroso Investments LLC raised its holdings in shares of Bridgetown by 2.7% during the first quarter. Toroso Investments LLC now owns 72,007 shares of the company’s stock worth $710,000 after purchasing an additional 1,915 shares during the last quarter. BlackRock Inc. purchased a new position in shares of Bridgetown during the first quarter worth $43,000. Evolution Capital Management LLC purchased a new position in shares of Bridgetown during the fourth quarter worth $98,000. Finally, Cohanzick Management LLC raised its holdings in shares of Bridgetown by 981.4% during the first quarter. Cohanzick Management LLC now owns 12,209 shares of the company’s stock worth $120,000 after purchasing an additional 11,080 shares during the last quarter. Hedge funds and other institutional investors own 43.19% of the company’s stock.
Bridgetown Holdings Limited 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 in the technology, financial services, or media sectors. The company was incorporated in 2020 and is based in Central, Hong Kong.
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