byNordic Acquisition Co. (NASDAQ:BYNO) Sees Large Growth in Short Interest

byNordic Acquisition Co. (NASDAQ:BYNO) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 700 shares, a growth of 600.0% from the August 15th total of 100 shares. Based on an average trading volume of 69,900 shares, the days-to-cover ratio is presently 0.0 days.

Insiders Place Their Bets

In other news, major shareholder Mizuho Securities Usa Llc sold 184,000 shares of the firm’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $10.67, for a total transaction of $1,963,280.00. Following the completion of the transaction, the insider now owns 316,000 shares of the company’s stock, valued at $3,371,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rivernorth Capital Management LLC acquired a new position in shares of byNordic Acquisition during the second quarter valued at about $15,726,000. Periscope Capital Inc. raised its stake in byNordic Acquisition by 208.8% during the 1st quarter. Periscope Capital Inc. now owns 1,344,159 shares of the company’s stock worth $13,979,000 after buying an additional 908,859 shares during the period. Citadel Advisors LLC bought a new position in byNordic Acquisition in the second quarter worth approximately $7,737,000. Bulldog Investors LLP acquired a new stake in byNordic Acquisition in the second quarter valued at approximately $2,955,000. Finally, K2 Principal Fund L.P. acquired a new stake in byNordic Acquisition in the second quarter valued at approximately $2,187,000. 71.90% of the stock is owned by institutional investors.

byNordic Acquisition Stock Performance

BYNO remained flat at $10.76 during trading on Thursday. 2,823 shares of the company’s stock were exchanged, compared to its average volume of 56,019. The company has a 50 day simple moving average of $10.66 and a 200-day simple moving average of $10.52. byNordic Acquisition has a twelve month low of $9.94 and a twelve month high of $11.63.

byNordic Acquisition Company Profile

byNordic Acquisition Corporation 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 in the financial technology sector in Northern Europe. byNordic Acquisition Corporation was incorporated in 2019 and is based in Malmö, Sweden.