AlphaTime Acquisition (NASDAQ:ATMC) Shares Up 3.1% – Time to Buy?

AlphaTime Acquisition Corp. (NASDAQ:ATMC) shot up 3.1% during trading on Tuesday . The stock traded as high as $12.39 and last traded at $12.4790. 303 shares traded hands during mid-day trading, an increase of 57% from the average session volume of 193 shares. The stock had previously closed at $12.10.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of AlphaTime Acquisition in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, AlphaTime Acquisition has an average rating of “Sell”.

AlphaTime Acquisition Trading Up 3.1%

The business’s fifty day simple moving average is $12.23 and its 200 day simple moving average is $12.03.

Institutional Investors Weigh In On AlphaTime Acquisition

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Warberg Asset Management LLC bought a new position in AlphaTime Acquisition during the first quarter worth about $213,000. Clear Street LLC raised its position in shares of AlphaTime Acquisition by 90.6% in the 2nd quarter. Clear Street LLC now owns 60,697 shares of the company’s stock valued at $716,000 after acquiring an additional 28,844 shares during the period. Finally, Clear Street Group Inc. bought a new position in AlphaTime Acquisition during the 3rd quarter worth approximately $766,000. Institutional investors own 82.24% of the company’s stock.

AlphaTime Acquisition Company Profile

AlphaTime Acquisition Corp does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in New York, New York.