Calisa Acquisition (NASDAQ:ALIS) Shares Down 12.1% – Should You Sell?

Calisa Acquisition Corp (NASDAQ:ALIS) shares were down 12.1% on Thursday. The stock traded as low as $9.20 and last traded at $9.70. Approximately 69,148 shares traded hands during mid-day trading, an increase of 101% from the average session volume of 34,462 shares. The stock had previously closed at $11.03.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Calisa Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has an average rating of “Sell”.

Calisa Acquisition Stock Performance

The company has a 50 day moving average of $10.28 and a 200-day moving average of $10.16.

Calisa Acquisition (NASDAQ:ALIS) last released its quarterly earnings results on Friday, August 7th. The company reported $0.04 earnings per share for the quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Harraden Circle Investments LLC bought a new stake in Calisa Acquisition during the second quarter worth about $256,000. Rivernorth Capital Management LLC bought a new position in shares of Calisa Acquisition during the 1st quarter valued at about $2,994,000. Evercore Wealth Management LLC bought a new position in shares of Calisa Acquisition during the 1st quarter valued at about $166,000. Sona Asset Management US LLC purchased a new position in shares of Calisa Acquisition during the 1st quarter valued at about $3,531,000. Finally, Berkley W R Corp raised its holdings in shares of Calisa Acquisition by 32.2% during the 1st quarter. Berkley W R Corp now owns 196,716 shares of the company’s stock valued at $1,968,000 after buying an additional 47,931 shares in the last quarter.

Calisa Acquisition Company Profile

Calisa Acquisition Corp. is a blank-check company, also known as a special purpose acquisition company (SPAC). The company was formed to identify and complete a merger, share exchange, asset acquisition, reorganization, or similar business combination with one or more operating businesses.

Unlike an operating company, Calisa Acquisition does not have a portfolio of products or services and does not conduct substantial commercial operations of its own. Its activities primarily involve evaluating potential acquisition targets and pursuing a transaction that would allow a private company to become publicly traded.

The company is incorporated in the Cayman Islands and trades on the Nasdaq under the symbol ALIS.