Charlton Aria Acquisition (NASDAQ:CHAR) Stock Price Up 0.2% – Time to Buy?

Charlton Aria Acquisition Corp (NASDAQ:CHAR)’s share price rose 0.2% on Friday . The stock traded as high as $10.78 and last traded at $10.76. Approximately 23,267 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 18,152 shares. The stock had previously closed at $10.74.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Charlton Aria Acquisition in a research note on Friday, April 24th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Charlton Aria Acquisition Stock Performance

The firm has a 50 day simple moving average of $10.66.

Charlton Aria Acquisition (NASDAQ:CHAR) last posted its earnings results on Wednesday, May 27th. The company reported $0.06 EPS for the quarter.

Hedge Funds Weigh In On Charlton Aria Acquisition

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. ABC Arbitrage SA bought a new position in shares of Charlton Aria Acquisition during the fourth quarter valued at $209,000. Glazer Capital LLC grew its stake in shares of Charlton Aria Acquisition by 5.3% in the fourth quarter. Glazer Capital LLC now owns 50,242 shares of the company’s stock worth $526,000 after purchasing an additional 2,528 shares during the last quarter. Sona Asset Management US LLC acquired a new stake in Charlton Aria Acquisition in the first quarter valued at $1,058,000. Clear Street Group Inc. raised its position in Charlton Aria Acquisition by 277.6% during the 4th quarter. Clear Street Group Inc. now owns 116,977 shares of the company’s stock worth $1,222,000 after purchasing an additional 86,000 shares during the last quarter. Finally, Berkley W R Corp raised its position in Charlton Aria Acquisition by 19.4% during the 1st quarter. Berkley W R Corp now owns 878,975 shares of the company’s stock worth $9,304,000 after purchasing an additional 142,746 shares during the last quarter.

Charlton Aria Acquisition Corp. (NASDAQ: CHAR) is a special purpose acquisition company (SPAC) listed on the Nasdaq exchange. As a blank-check vehicle, its primary business purpose is to identify, negotiate and complete a business combination, merger, capital stock exchange, asset acquisition or similar transaction with one or more operating businesses. SPACs such as Charlton Aria raise capital through public offerings and seek to use those proceeds to acquire a private company and take it public through the combination.

Like other SPACs, Charlton Aria’s principal activities center on sourcing potential targets, conducting due diligence, negotiating transaction terms and securing shareholder and regulatory approvals for a proposed business combination.