PHP Ventures Acquisition Corp. (NASDAQ:PPHP) Sees Significant Increase in Short Interest

PHP Ventures Acquisition Corp. (NASDAQ:PPHP) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 22,000 shares, a growth of 21,900.0% from the March 15th total of 100 shares. Based on an average daily trading volume, of 14,800 shares, the days-to-cover ratio is currently 1.5 days.

Institutional Investors Weigh In On PHP Ventures Acquisition

Several large investors have recently made changes to their positions in PPHP. Clear Street LLC bought a new stake in shares of PHP Ventures Acquisition in the 4th quarter worth about $37,000. Goldman Sachs Group Inc. bought a new stake in shares of PHP Ventures Acquisition in the 1st quarter worth about $159,000. Mizuho Securities USA LLC bought a new stake in shares of PHP Ventures Acquisition in the 3rd quarter worth about $170,000. Meteora Capital LLC bought a new stake in shares of PHP Ventures Acquisition in the 4th quarter worth about $474,000. Finally, Warberg Asset Management LLC lifted its position in PHP Ventures Acquisition by 2.3% during the 4th quarter. Warberg Asset Management LLC now owns 46,719 shares of the company’s stock worth $518,000 after buying an additional 1,053 shares in the last quarter. Institutional investors own 27.40% of the company’s stock.

PHP Ventures Acquisition Price Performance

Shares of PHP Ventures Acquisition stock opened at $10.99 on Thursday. The company’s fifty day moving average price is $11.04 and its two-hundred day moving average price is $11.03. PHP Ventures Acquisition has a 52-week low of $10.66 and a 52-week high of $11.95. The firm has a market capitalization of $28.57 million, a PE ratio of -27.47 and a beta of 0.01.

About PHP Ventures Acquisition

PHP Ventures Acquisition Corp. does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. It intends to focus on consumer-facing companies in Africa. The company was incorporated in 2021 and is based in Subang Jaya, Malaysia.