Swiftmerge Acquisition Corp. (NASDAQ:IVCP) Sees Large Decrease in Short Interest

Swiftmerge Acquisition Corp. (NASDAQ:IVCP) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 1,400 shares, a decline of 6.7% from the August 31st total of 1,500 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 3,600 shares, the short-interest ratio is presently 0.4 days.

Swiftmerge Acquisition Stock Performance

NASDAQ IVCP opened at $11.11 on Monday. Swiftmerge Acquisition has a 52-week low of $10.40 and a 52-week high of $12.20. The company has a market capitalization of $75.99 million, a P/E ratio of 79.36 and a beta of 0.02. The company has a fifty day moving average of $11.03 and a 200-day moving average of $10.92.

Swiftmerge Acquisition (NASDAQ:IVCP) last posted its quarterly earnings data on Thursday, August 29th. The company reported ($0.05) earnings per share (EPS) for the quarter.

Institutional Trading of Swiftmerge Acquisition

A number of hedge funds have recently made changes to their positions in the stock. Wolverine Asset Management LLC bought a new stake in Swiftmerge Acquisition in the second quarter worth $122,000. Virtu Financial LLC bought a new stake in Swiftmerge Acquisition in the first quarter worth $562,000. Berkley W R Corp bought a new stake in Swiftmerge Acquisition in the second quarter worth $1,160,000. Sandia Investment Management LP bought a new stake in Swiftmerge Acquisition in the first quarter worth $1,349,000. Finally, Quarry LP bought a new stake in Swiftmerge Acquisition in the second quarter worth $6,088,000. 38.10% of the stock is owned by institutional investors.

About Swiftmerge Acquisition

Swiftmerge Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in West Vancouver, Canada.