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

Banner Acquisition Corp. (NASDAQ:BNNRGet Rating) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 6,900 shares, a growth of 6.2% from the August 15th total of 6,500 shares. Based on an average daily volume of 17,900 shares, the short-interest ratio is currently 0.4 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On Banner Acquisition

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cohanzick Management LLC increased its stake in Banner Acquisition by 299.9% in the 1st quarter. Cohanzick Management LLC now owns 8,597 shares of the company’s stock worth $85,000 after purchasing an additional 6,447 shares during the period. OTA Financial Group L.P. purchased a new position in shares of Banner Acquisition in the second quarter worth $572,000. Prelude Capital Management LLC bought a new stake in Banner Acquisition during the 1st quarter valued at $612,000. Dark Forest Capital Management LP boosted its position in Banner Acquisition by 68.3% during the 2nd quarter. Dark Forest Capital Management LP now owns 87,446 shares of the company’s stock valued at $863,000 after buying an additional 35,496 shares during the period. Finally, Millennium Management LLC grew its holdings in Banner Acquisition by 2.5% in the 2nd quarter. Millennium Management LLC now owns 182,805 shares of the company’s stock worth $1,802,000 after acquiring an additional 4,380 shares during the last quarter. Institutional investors own 65.07% of the company’s stock.

Banner Acquisition Price Performance

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

About Banner Acquisition

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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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