Short Interest in Swiftmerge Acquisition Corp. (NASDAQ:IVCP) Declines By 6.7%

Swiftmerge Acquisition Corp. (NASDAQ:IVCP) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 1,400 shares, a drop of 6.7% from the August 31st total of 1,500 shares. Based on an average daily trading volume, of 3,600 shares, the short-interest ratio is currently 0.4 days. Currently, 0.1% of the company’s stock are short sold.

Swiftmerge Acquisition Price Performance

Shares of NASDAQ:IVCP opened at $11.11 on Wednesday. Swiftmerge Acquisition has a 12 month low of $10.40 and a 12 month high of $12.20. The firm has a market capitalization of $75.99 million, a P/E ratio of 79.36 and a beta of 0.02. The company’s fifty day moving average price is $11.03 and its 200 day moving average price is $10.92.

Swiftmerge Acquisition (NASDAQ:IVCP) last posted its earnings results on Thursday, August 29th. The company reported ($0.05) earnings per share for the quarter.

Hedge Funds Weigh In On Swiftmerge Acquisition

Hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC acquired a new stake in Swiftmerge Acquisition during the 2nd quarter worth $122,000. Virtu Financial LLC purchased a new position in shares of Swiftmerge Acquisition during the first quarter worth about $562,000. Berkley W R Corp acquired a new position in Swiftmerge Acquisition in the 2nd quarter valued at about $1,160,000. Sandia Investment Management LP acquired a new position in Swiftmerge Acquisition in the 1st quarter valued at about $1,349,000. Finally, Quarry LP purchased a new stake in Swiftmerge Acquisition during 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

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.