Short Interest in Swiftmerge Acquisition Corp. (NASDAQ:IVCP) Increases By 44.4%

Posted by Trent Williams on Jul 29th, 2024

Swiftmerge Acquisition Corp. (NASDAQ:IVCP – Get Free Report) saw a significant growth in short interest in July. As of July 15th, there was short interest totalling 1,300 shares, a growth of 44.4% from the June 30th total of 900 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 5,800 shares, the days-to-cover ratio is currently 0.2 days.

Swiftmerge Acquisition Price Performance

IVCP traded down $0.02 during trading hours on Monday, reaching $10.95. 162 shares of the stock traded hands, compared to its average volume of 21,891. Swiftmerge Acquisition has a fifty-two week low of $10.36 and a fifty-two week high of $12.20. The company has a market cap of $74.90 million, a price-to-earnings ratio of 78.21 and a beta of 0.02. The firm’s fifty day simple moving average is $10.93 and its two-hundred day simple moving average is $10.89.

Swiftmerge Acquisition (NASDAQ:IVCP – Get Free Report) last released its quarterly earnings results on Monday, May 20th. The company reported ($0.01) EPS for the quarter.

Hedge Funds Weigh In On Swiftmerge Acquisition

Several institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new position in shares of Swiftmerge Acquisition during the first quarter worth about $562,000. Mizuho Securities USA LLC bought a new position in Swiftmerge Acquisition during the 4th quarter worth approximately $1,064,000. Sandia Investment Management LP acquired a new position in shares of Swiftmerge Acquisition in the 1st quarter worth approximately $1,349,000. Finally, Quarry LP bought a new stake in shares of Swiftmerge Acquisition in the 4th quarter valued at approximately $6,049,000. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Swiftmerge Acquisition Company Profile

(Get Free Report)

Swiftmerge Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was incorporated in 2021 and is based in West Vancouver, Canada.