Evergreen Co. (NASDAQ:EVGR) Sees Significant Growth in Short Interest

Evergreen Co. (NASDAQ:EVGR - Get Free Report) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,600 shares, a growth of 36.8% from the December 15th total of 1,900 shares. Based on an average daily trading volume, of 5,700 shares, the short-interest ratio is currently 0.5 days. Approximately 0.1% of the company's shares are sold short.

Hedge Funds Weigh In On Evergreen

Several large investors have recently modified their holdings of EVGR. Spartan Fund Management Inc. purchased a new position in Evergreen in the 3rd quarter worth approximately $603,000. K2 Principal Fund L.P. purchased a new stake in Evergreen in the second quarter worth about $1,675,000. Quarry LP purchased a new position in Evergreen in the third quarter worth about $1,734,000. Finally, Westchester Capital Management LLC purchased a new stake in shares of Evergreen during the third quarter valued at $2,920,000. Hedge funds and other institutional investors own 69.26% of the company's stock.

Evergreen Price Performance

Evergreen stock remained flat at $11.91 during midday trading on Thursday. The company had a trading volume of 75,045 shares, compared to its average volume of 49,381. The company has a market cap of $96.11 million and a P/E ratio of 42.54. The business has a 50 day moving average price of $11.83 and a two-hundred day moving average price of $11.70. Evergreen has a twelve month low of $11.24 and a twelve month high of $11.93.

Evergreen Company Profile

Evergreen Corporation is a blank check company. It intends to enter into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in Kuala Lumpur, Malaysia.