AI Transportation Acquisition Corp (NASDAQ:AITR) Short Interest Update

AI Transportation Acquisition Corp (NASDAQ:AITR) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 2,800 shares, a growth of 33.3% from the August 15th total of 2,100 shares. Based on an average daily volume of 16,100 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are sold short.

Institutional Investors Weigh In On AI Transportation Acquisition

A number of institutional investors have recently added to or reduced their stakes in AITR. Karpus Management Inc. bought a new position in shares of AI Transportation Acquisition during the first quarter valued at $10,235,000. Shaolin Capital Management LLC bought a new stake in shares of AI Transportation Acquisition in the 2nd quarter valued at about $2,637,000. Cowen AND Company LLC increased its stake in shares of AI Transportation Acquisition by 90.4% in the second quarter. Cowen AND Company LLC now owns 252,706 shares of the company’s stock valued at $2,616,000 after buying an additional 120,000 shares during the period. Gabelli Funds LLC bought a new position in shares of AI Transportation Acquisition during the first quarter worth about $1,029,000. Finally, Periscope Capital Inc. acquired a new position in shares of AI Transportation Acquisition in the first quarter worth approximately $1,028,000. 81.89% of the stock is owned by institutional investors.

AI Transportation Acquisition Stock Performance

NASDAQ:AITR opened at $10.48 on Monday. The stock’s 50-day moving average is $10.41 and its 200-day moving average is $10.35. AI Transportation Acquisition has a 1-year low of $10.11 and a 1-year high of $10.48.

About AI Transportation Acquisition

AI Transportation Acquisition Corp does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. It intends to focus on businesses in the transportation field, including logistics, new energy vehicles, smart parking, on-board chips and AI algorithms, automotive services, and related areas of intelligent transportation.