ARC Group Acquisition I (NASDAQ:ARCL) Announces Earnings Results

ARC Group Acquisition I (NASDAQ:ARCL) posted its earnings results on Thursday. The company reported $0.07 earnings per share (EPS) for the quarter, FiscalAI reports.

ARC Group Acquisition I Price Performance

Shares of ARCL traded up $0.04 during midday trading on Thursday, reaching $10.06. 85,028 shares of the company were exchanged, compared to its average volume of 53,680. ARC Group Acquisition I has a 1-year low of $9.85 and a 1-year high of $10.10. The company’s 50-day moving average is $10.02.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of ARC Group Acquisition I from a “sell (e)” rating to a “sell (e+)” rating in a research note on Monday, November 2nd. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About ARC Group Acquisition I

ARC Group Acquisition I Corp. is a special purpose acquisition company, or SPAC. It was formed to pursue a merger, share exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. Unlike an operating company, ARC Group Acquisition I does not offer products or services of its own. Its principal activity is identifying and evaluating a potential business combination. The company’s business prospects depend on completing a transaction with a suitable target.