Kernel Group Holdings, Inc. (NASDAQ:KRNL) Sees Significant Increase in Short Interest

Kernel Group Holdings, Inc. (NASDAQ:KRNL) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 800 shares, a growth of 166.7% from the June 30th total of 300 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 2,300 shares, the days-to-cover ratio is currently 0.3 days.

Kernel Group Price Performance

KRNL stock remained flat at $11.10 during midday trading on Friday. The company had a trading volume of 8,094 shares, compared to its average volume of 1,515. Kernel Group has a 52-week low of $10.19 and a 52-week high of $11.29. The stock’s 50 day simple moving average is $11.01 and its 200-day simple moving average is $10.88.

Hedge Funds Weigh In On Kernel Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in shares of Kernel Group during the first quarter worth approximately $267,000. K2 Principal Fund L.P. acquired a new position in Kernel Group in the fourth quarter worth $1,120,000. Glazer Capital LLC grew its holdings in shares of Kernel Group by 1,082.5% during the fourth quarter. Glazer Capital LLC now owns 197,154 shares of the company’s stock worth $2,117,000 after purchasing an additional 180,482 shares during the last quarter. Kim LLC grew its holdings in shares of Kernel Group by 27.0% during the fourth quarter. Kim LLC now owns 235,000 shares of the company’s stock worth $2,524,000 after purchasing an additional 50,000 shares during the last quarter. Finally, Cowen AND Company LLC increased its stake in shares of Kernel Group by 10.6% in the fourth quarter. Cowen AND Company LLC now owns 367,822 shares of the company’s stock valued at $3,950,000 after buying an additional 35,304 shares in the last quarter. 44.40% of the stock is owned by institutional investors.

About Kernel Group

Kernel Group Holdings, Inc does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities. Kernel Group Holdings, Inc was incorporated in 2020 and is based in New York, New York.