Denali Capital Acquisition Corp. (NASDAQ:DECA) Sees Significant Growth in Short Interest

Denali Capital Acquisition Corp. (NASDAQ:DECA) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 10,000 shares, an increase of 163.2% from the May 31st total of 3,800 shares. Based on an average daily trading volume, of 35,300 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On Denali Capital Acquisition

Several hedge funds have recently modified their holdings of the stock. Clear Street LLC lifted its holdings in shares of Denali Capital Acquisition by 4,549.6% during the fourth quarter. Clear Street LLC now owns 27,665 shares of the company’s stock valued at $281,000 after purchasing an additional 27,070 shares during the last quarter. Quarry LP purchased a new stake in shares of Denali Capital Acquisition during the fourth quarter valued at $1,273,000. Glazer Capital LLC lifted its holdings in shares of Denali Capital Acquisition by 133.3% during the fourth quarter. Glazer Capital LLC now owns 310,944 shares of the company’s stock valued at $3,430,000 after purchasing an additional 177,640 shares during the last quarter. Finally, Cohanzick Management LLC purchased a new stake in shares of Denali Capital Acquisition during the fourth quarter valued at $2,098,000.

Denali Capital Acquisition Trading Down 1.8 %

Shares of NASDAQ DECA traded down $0.20 during mid-day trading on Friday, hitting $11.19. 30,444 shares of the company traded hands, compared to its average volume of 33,912. Denali Capital Acquisition has a 1 year low of $4.05 and a 1 year high of $14.10. The business has a 50 day moving average of $7.49 and a two-hundred day moving average of $7.36.

About Denali Capital Acquisition

Denali Capital Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other business combination with one or more businesses or entities. It intends to complete a business combination with companies primarily operating in the technology, consumer, and hospitality sectors.