Mars Acquisition (NASDAQ:MARX) Trading 0.6% Higher – Still a Buy?

Mars Acquisition Corp. (NASDAQ:MARX) shares rose 0.6% during mid-day trading on Monday . The company traded as high as $11.12 and last traded at $11.12. Approximately 419 shares changed hands during mid-day trading, a decline of 99% from the average daily volume of 39,868 shares. The stock had previously closed at $11.05.

Mars Acquisition Price Performance

The company’s 50 day moving average is $11.04 and its 200 day moving average is $10.92.

Hedge Funds Weigh In On Mars Acquisition

Hedge funds and other institutional investors have recently bought and sold shares of the company. Walleye Trading LLC purchased a new position in shares of Mars Acquisition in the first quarter valued at $768,000. Berkley W R Corp increased its holdings in Mars Acquisition by 17.2% during the 2nd quarter. Berkley W R Corp now owns 338,786 shares of the company’s stock valued at $3,693,000 after acquiring an additional 49,690 shares in the last quarter. Cowen AND Company LLC raised its position in Mars Acquisition by 13.8% during the second quarter. Cowen AND Company LLC now owns 290,545 shares of the company’s stock worth $3,167,000 after acquiring an additional 35,185 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in Mars Acquisition during the third quarter worth about $1,378,000. 74.04% of the stock is owned by institutional investors and hedge funds.

Mars Acquisition Company Profile

Mars Acquisition Corp. does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses. It intends to focus on opportunities in cryptocurrency and blockchain, automobiles, healthcare, financial technology, cyber security, cleantech, software, Internet and artificial intelligence, specialty manufacturing, and other related technology innovations market.