From MarketBeat:

Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH) experienced a significant 21.4% decline in short interest during December, with 1,100 shares shorted. The days-to-cover ratio is 0.2 days, based on the average daily volume of 5,400 shares. Institutional investors now own 29.40% of the stock.

Several large investors have recently acquired shares of Atlantic Coastal Acquisition. Penserra Capital Management LLC, UBS Group AG, Deutsche Bank AG, Flow Traders U.S. LLC, and Jane Street Group LLC all bought stakes within the last two quarters.

NASDAQ:ACAH opened at $10.59 on Friday, with a 50-day moving average of $10.56 and a 200 day moving average of $10.48. The stock has seen a one year low of $10.01 and a one year high of $11.63.

Atlantic Coastal Acquisition Corp., incorporated in 2020 in New York, does not currently have significant operations. It is focused on effecting a business combination with one or more businesses in the mobility sector.

The news of Atlantic Coastal Acquisition Corp. experiencing a significant decline in short interest in December was reported by MarketBeat. The story was reviewed by MarketBeat’s editorial team prior to publication.

While Atlantic Coastal Acquisition currently has a “hold” rating among analysts, top-rated analysts have identified five other stocks as better buys.

If you’re considering investing in Atlantic Coastal Acquisition, MarketBeat recommends considering other opportunities.



Read more: Short Interest in Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH) Declines By 21.4%