byNordic Acquisition Co. (NASDAQ:BYNO) Sees Significant Increase in Short Interest

byNordic Acquisition Co. (NASDAQ:BYNO) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 9,400 shares, an increase of 9,300.0% from the October 31st total of 100 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 13,000 shares, the days-to-cover ratio is presently 0.7 days.

byNordic Acquisition Stock Performance

NASDAQ:BYNO opened at $11.43 on Friday. byNordic Acquisition has a 52-week low of $10.87 and a 52-week high of $12.51. The stock’s 50 day moving average price is $11.41 and its 200 day moving average price is $11.37.

Hedge Funds Weigh In On byNordic Acquisition

Hedge funds have recently modified their holdings of the business. Quarry LP purchased a new stake in byNordic Acquisition in the 2nd quarter valued at $82,000. Warberg Asset Management LLC purchased a new stake in shares of byNordic Acquisition in the second quarter valued at about $134,000. Virtu Financial LLC acquired a new stake in shares of byNordic Acquisition during the third quarter worth about $201,000. Tidal Investments LLC purchased a new position in shares of byNordic Acquisition during the first quarter worth about $240,000. Finally, Clear Street LLC increased its position in byNordic Acquisition by 133.1% in the 2nd quarter. Clear Street LLC now owns 36,124 shares of the company’s stock valued at $408,000 after acquiring an additional 20,630 shares during the period. 32.91% of the stock is currently owned by hedge funds and other institutional investors.

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.