AI Transportation Acquisition Corp (NASDAQ:AITR) Sees Significant Growth in Short Interest

AI Transportation Acquisition Corp (NASDAQ:AITR) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 4,600 shares, an increase of 64.3% from the August 31st total of 2,800 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 12,800 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AITR. Karpus Management Inc. purchased a new stake in AI Transportation Acquisition during the first quarter valued at approximately $10,235,000. Shaolin Capital Management LLC purchased a new stake in AI Transportation Acquisition in the second quarter valued at $2,637,000. Cowen AND Company LLC lifted its holdings in 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 acquiring an additional 120,000 shares during the period. Gabelli Funds LLC acquired a new stake in AI Transportation Acquisition during the first quarter valued at $1,029,000. Finally, Periscope Capital Inc. acquired a new stake in shares of AI Transportation Acquisition during the 1st quarter valued at about $1,028,000. Hedge funds and other institutional investors own 81.89% of the company’s stock.

AI Transportation Acquisition Stock Performance

Shares of AITR opened at $10.48 on Friday. AI Transportation Acquisition has a 52 week low of $10.11 and a 52 week high of $10.49. The business has a 50-day simple moving average of $10.43 and a two-hundred day simple moving average of $10.36.

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.