Alpha Capital Acquisition (NASDAQ:ASPC) Trading Down 1.8% – Here’s What Happened

Alpha Capital Acquisition (NASDAQ:ASPC) shares traded down 1.8% during trading on Wednesday . The company traded as low as $10.62 and last traded at $10.62. 1,243 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 41,591 shares. The stock had previously closed at $10.82.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Alpha Capital Acquisition in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has a consensus rating of “Sell”.

Alpha Capital Acquisition Stock Down 2.6%

The stock has a 50 day simple moving average of $11.02 and a two-hundred day simple moving average of $12.58.

Alpha Capital Acquisition (NASDAQ:ASPC) last announced its earnings results on Friday, May 8th. The company reported $0.03 EPS for the quarter. As a group, equities research analysts expect that Alpha Capital Acquisition will post -0.27 EPS for the current year.

Hedge Funds Weigh In On Alpha Capital Acquisition

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC purchased a new stake in Alpha Capital Acquisition during the 4th quarter valued at approximately $377,000. Clear Street Group Inc. acquired a new position in shares of Alpha Capital Acquisition in the third quarter valued at approximately $117,000. Berkley W R Corp increased its holdings in shares of Alpha Capital Acquisition by 19.3% in the third quarter. Berkley W R Corp now owns 615,149 shares of the company’s stock valued at $6,361,000 after purchasing an additional 99,579 shares during the period. Radcliffe Capital Management L.P. purchased a new stake in shares of Alpha Capital Acquisition during the second quarter worth approximately $336,000. Finally, Sandia Investment Management LP purchased a new stake in shares of Alpha Capital Acquisition during the second quarter worth approximately $308,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

About Alpha Capital Acquisition

Alpha Capital Acquisition Company 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 in technology sector. The company was incorporated in 2020 and is based in New York, New York.