Bleichroeder Acquisition Corp. I (NASDAQ:BACQ) Stock Price Up 1% – Here’s What Happened

Bleichroeder Acquisition Corp. I (NASDAQ:BACQ) shares rose 1% during trading on Wednesday . The company traded as high as $10.91 and last traded at $10.81. Approximately 1,232,680 shares were traded during mid-day trading, an increase of 318% from the average daily volume of 294,642 shares. The stock had previously closed at $10.70.

Analyst Upgrades and Downgrades

BACQ has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e)” rating on shares of Bleichroeder Acquisition Corp. I in a report on Wednesday. Wall Street Zen upgraded Bleichroeder Acquisition Corp. I to a “hold” rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Bleichroeder Acquisition Corp. I has a consensus rating of “Sell”.

Bleichroeder Acquisition Corp. I Stock Performance

The business has a 50 day moving average of $10.39 and a 200-day moving average of $10.26.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BACQ. Meteora Capital LLC purchased a new position in Bleichroeder Acquisition Corp. I during the 2nd quarter worth approximately $25,674,000. Continental General Insurance Co. acquired a new stake in Bleichroeder Acquisition Corp. I during the 1st quarter worth approximately $20,020,000. Wolverine Asset Management LLC lifted its position in Bleichroeder Acquisition Corp. I by 408.3% during the 1st quarter. Wolverine Asset Management LLC now owns 1,106,088 shares of the company’s stock worth $11,072,000 after acquiring an additional 888,474 shares during the period. Alberta Investment Management Corp acquired a new stake in Bleichroeder Acquisition Corp. I during the 2nd quarter worth approximately $7,748,000. Finally, Linden Advisors LP acquired a new stake in Bleichroeder Acquisition Corp. I during the 1st quarter worth approximately $7,522,000.

About Bleichroeder Acquisition Corp. I

Bleichroeder Acquisition Corp. I is a blank check company. It was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded by Andrew Stephen Gundlach and Michel Combes on June 24, 2024 and is headquartered in New York, NY.