Onyx Acquisition Co. I (NASDAQ:ONYX) Short Interest Down 71.4% in June

Onyx Acquisition Co. I (NASDAQ:ONYX) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totalling 600 shares, a decrease of 71.4% from the June 15th total of 2,100 shares. Based on an average daily volume of 3,500 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Onyx Acquisition Co. I Stock Performance

NASDAQ ONYX remained flat at $11.23 during mid-day trading on Friday. 112 shares of the company traded hands, compared to its average volume of 11,955. Onyx Acquisition Co. I has a 52-week low of $10.72 and a 52-week high of $12.00. The company has a 50-day moving average price of $11.24 and a two-hundred day moving average price of $11.16.

Insiders Place Their Bets

In other news, major shareholder Carronade Capital Management, sold 180,000 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $11.10, for a total transaction of $1,998,000.00. Following the transaction, the insider now directly owns 814,082 shares in the company, valued at approximately $9,036,310.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 76.68% of the company’s stock.

Institutional Trading of Onyx Acquisition Co. I

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Onyx Acquisition Co. I during the fourth quarter worth about $1,480,000. Clear Street LLC raised its position in shares of Onyx Acquisition Co. I by 1,241.8% in the 4th quarter. Clear Street LLC now owns 10,305 shares of the company’s stock valued at $113,000 after purchasing an additional 9,537 shares in the last quarter. Tuttle Capital Management LLC acquired a new stake in shares of Onyx Acquisition Co. I during the fourth quarter worth approximately $220,000. Cowen AND Company LLC bought a new stake in shares of Onyx Acquisition Co. I in the fourth quarter worth $226,000. Finally, Robinson Capital Management LLC acquired a new stake in Onyx Acquisition Co. I in the first quarter valued at $59,000. 23.34% of the stock is owned by hedge funds and other institutional investors.

Onyx Acquisition Co. I Company Profile

Onyx Acquisition Co I does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities in general industrials and construction technology sectors. The company was incorporated in 2021 and is based in New York, New York.