Kernel Group Holdings, Inc. (NASDAQ:KRNL) Short Interest Down 25.0% in March

Kernel Group Holdings, Inc. (NASDAQ:KRNL) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 900 shares, a drop of 25.0% from the February 29th total of 1,200 shares. Based on an average trading volume of 9,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.2% of the company’s stock are sold short.

Hedge Funds Weigh In On Kernel Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in Kernel Group by 267.7% during the first quarter. Bank of America Corp DE now owns 747,885 shares of the company’s stock worth $7,337,000 after purchasing an additional 544,500 shares during the last quarter. First Trust Capital Management L.P. boosted its position in shares of Kernel Group by 1,615.2% in the 4th quarter. First Trust Capital Management L.P. now owns 500,841 shares of the company’s stock valued at $5,058,000 after purchasing an additional 471,641 shares during the period. Wolverine Asset Management LLC acquired a new stake in Kernel Group during the 3rd quarter worth about $4,076,000. Sandia Investment Management LP acquired a new stake in shares of Kernel Group during the 1st quarter valued at about $3,838,000. Finally, Millennium Management LLC lifted its holdings in shares of Kernel Group by 44.6% during the 2nd quarter. Millennium Management LLC now owns 1,163,397 shares of the company’s stock valued at $11,425,000 after buying an additional 359,098 shares during the last quarter. 44.40% of the stock is currently owned by hedge funds and other institutional investors.

Kernel Group Price Performance

Shares of NASDAQ:KRNL opened at $10.75 on Friday. The company has a 50 day moving average of $10.82 and a two-hundred day moving average of $10.70. Kernel Group has a 52-week low of $10.19 and a 52-week high of $11.07.

About Kernel Group

Kernel Group Holdings, Inc does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. It intends to identify, acquire, and manage a business in the commerce enablement, supply chain, logistics and related technology infrastructure sectors.