Alpha Capital Acquisition (NASDAQ:ASPC) Trading Down 1.7% – Here’s Why

Alpha Capital Acquisition (NASDAQ:ASPC) fell 1.7% on Friday . The stock traded as low as $10.51 and last traded at $10.63. Approximately 3,300 shares were traded during mid-day trading, a decline of 91% from the average session volume of 37,711 shares. The stock had previously closed at $10.81.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Alpha Capital Acquisition in a report on Wednesday. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Alpha Capital Acquisition Price Performance

The business has a 50-day moving average of $10.82 and a 200 day moving average of $11.70.

Alpha Capital Acquisition (NASDAQ:ASPC) last posted its quarterly earnings data on Friday, May 8th. The company reported $0.03 earnings per share (EPS) for the quarter. As a group, equities analysts anticipate that Alpha Capital Acquisition will post -0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASPC. Geode Capital Management LLC bought a new stake in Alpha Capital Acquisition in the 4th quarter worth about $377,000. Radcliffe Capital Management L.P. bought a new position in shares of Alpha Capital Acquisition during the 2nd quarter worth approximately $336,000. Sandia Investment Management LP bought a new position in shares of Alpha Capital Acquisition during the 2nd quarter worth approximately $308,000. Gabelli Funds LLC purchased a new position in shares of Alpha Capital Acquisition in the 2nd quarter worth approximately $736,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Alpha Capital Acquisition in the 1st quarter worth approximately $636,000. 88.95% of the stock is currently owned by hedge funds and other institutional investors.

Alpha Capital Acquisition Company Profile

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.