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

byNordic Acquisition Co. (NASDAQ:BYNO - Get Free Report) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totalling 400 shares, a drop of 60.0% from the September 30th total of 1,000 shares. Based on an average daily volume of 7,100 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new position in shares of byNordic Acquisition during the 2nd quarter worth approximately $82,000. Logan Stone Capital LLC purchased a new position in byNordic Acquisition during the second quarter worth $1,215,000. K2 Principal Fund L.P. acquired a new position in shares of byNordic Acquisition in the second quarter worth $646,000. Clear Street LLC lifted its position in shares of byNordic Acquisition by 133.1% in the second 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 in the last quarter. Finally, Warberg Asset Management LLC acquired a new stake in shares of byNordic Acquisition during the second quarter valued at $134,000. Institutional investors and hedge funds own 32.91% of the company's stock.

byNordic Acquisition Stock Performance

BYNO stock traded down $0.03 during midday trading on Friday, hitting $11.40. 5,300 shares of the stock were exchanged, compared to its average volume of 22,980. byNordic Acquisition has a fifty-two week low of $10.76 and a fifty-two week high of $12.51. The stock's 50-day moving average price is $11.41 and its 200-day moving average price is $11.32.

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.